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The city of Huntsville has pinpointed four areas that could benefit from growth and development, and leaders have selected a firm to help study the benefits.
In a conference Monday, Mayor Tommy Battle said the city plans to enter into a $69,500 contract with Atlanta-based The Shopping Center Group. Areas of consideration include North Huntsville along Memorial Parkway, Jordan Lane, University Drive and South Huntsville along Memorial Parkway.
The Shopping Center Group will study those areas and identify multiple opportunity sites for development or redevelopment. The group will provide a detailed market analysis of existing and potential retail for the areas and leakage reports to indicate the most opportune retail type categories for areas studied.
The study will also provide site-specific marketing reports on identified opportunity sites, a marketing package for each strategic area to assist economic development efforts by the city and market optimization reports for each strategic area studied.
"The completion of this retail recruitment study will allow us to further our efforts in the retail development of key areas within our community," Battle said. "Our economic development and planning departments will be using the results of the study to work with property owners, brokers, and retailers to recruit new business in these four strategic areas."
Urban Development Director Shane Davis said the study will take about 90 days to complete and will be updated through 2014.
"We have major corridors that have suffered through the recession and a decade of road construction," Davis said. "We believe these corridors are still a vital part of our urban infrastructure, and we look forward to pursuing what might be possible."
The contract will be paid in three installments over a two-year period, and will be presented to the City Council this week for approval. The Shopping Center Group “provides expert retail real estate brokerage services throughout the Southeast and Mid-Atlantic regions,” according to a press release.
"Developers have multiple options in today's marketplace, and we need every tool in our tool chest to showcase the numerous opportunities in Huntsville," said Michelle Jordan, director of economic development. "Even with good data and models through these studies, it will still take teamwork and a strong effort with our community partners to help revitalize these important core areas of our city."
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Huntsville to hire development group for study
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