Masterplan Land Development

PROJECT SUMMARY

The Masterplan represents a landmark mixed-use development project situated in the vibrant city of Huntsville, Alabama. This sustainably designed, 38-acre community will feature more than 100,000 square feet of retail, a full-service hotel, and modern townhome and apartment rental units. The Buchanan infuses hospitality throughout a walkable, seamlessly integrated community of shopping, dining, entertainment, and living. It’s more than just another place to go, it’s a place to be — a hub of activity that delivers the luxury of the modern South.
The project is segmented into multiple phases, each focusing on a specific use class to enhance the overall value and utility of the development. The Development Team intends to close on the acquisition of the subject property in March 2024, with Site Development and Construction commencing in Q1 2025. The townhomes for rent are contemplated to begin construction immediately, along with the hotel and multifamily phases which will also include bottom floor retail and a fitness center. Subsequently, the balance of stand-alone retail, restaurants, and Grocery store are contemplated, with a masterplan completion date slated for July, 2028.

PROJECT SUMMARY

The Masterplan represents a landmark mixed-use development project situated in the vibrant city of Huntsville, Alabama. This sustainably designed, 38-acre community will feature more than 100,000 square feet of retail, a full-service hotel, and modern townhome and apartment rental units. The Buchanan infuses hospitality throughout a walkable, seamlessly integrated community of shopping, dining, entertainment, and living. It’s more than just another place to go, it’s a place to be — a hub of activity that delivers the luxury of the modern South.
The project is segmented into multiple phases, each focusing on a specific use class to enhance the overall value and utility of the development. The Development Team intends to close on the acquisition of the subject property in March 2024, with Site Development and Construction commencing in Q1 2025. The townhomes for rent are contemplated to begin construction immediately, along with the hotel and multifamily phases which will also include bottom floor retail and a fitness center. Subsequently, the balance of stand-alone retail, restaurants, and Grocery store are contemplated, with a masterplan completion date slated for July, 2028.

SCOPE OF WORK

RS&Co. was engaged to perform a feasibility analysis of the proposed development master plan and program for the property located at 6884 Hollow Road NW, Huntsville, AL 35810. In November 2023, the Client executed a purchase and sale agreement to acquire the approximately 38.32-acre property with the intent to development a mixed-use development to include a variety of uses including townhomes, various retail, a hotel, and multifamily apartments. As part of their due diligence and in preparation for their upcoming land acquisition closing, the Client seeks to gain further insight into the feasibility of the proposed development plan and program.
The client indicated they received some form of partial approval from the City of Huntsville for the proposed master site plan, of which we received 3 versions. The first version received on February 25th, 2024, is Contineo Group’s conceptual master site plan dated January 30th, 2024. The second version received on February 26th, 2024, is an alternate preliminary site plan received from the Client’s design team. The third version received February 28, 2024, is a draft dimensions file of an updated site plan. The three (3) various conceptual designs included similar layouts and locations of use types, with varying street and building locations, and dimensions/measurements. On February 28th, 2024, the Client directed Our team to utilize the February 28th dimensions file as the basis for our analysis.

SCOPE OF WORK

RS&Co. was engaged to perform a feasibility analysis of the proposed development master plan and program for the property located at 6884 Hollow Road NW, Huntsville, AL 35810. In November 2023, the Client executed a purchase and sale agreement to acquire the approximately 38.32-acre property with the intent to development a mixed-use development to include a variety of uses including townhomes, various retail, a hotel, and multifamily apartments. As part of their due diligence and in preparation for their upcoming land acquisition closing, the Client seeks to gain further insight into the feasibility of the proposed development plan and program.
The client indicated they received some form of partial approval from the City of Huntsville for the proposed master site plan, of which we received 3 versions. The first version received on February 25th, 2024, is Contineo Group’s conceptual master site plan dated January 30th, 2024. The second version received on February 26th, 2024, is an alternate preliminary site plan received from the Client’s design team. The third version received February 28, 2024, is a draft dimensions file of an updated site plan. The three (3) various conceptual designs included similar layouts and locations of use types, with varying street and building locations, and dimensions/measurements. On February 28th, 2024, the Client directed Our team to utilize the February 28th dimensions file as the basis for our analysis.

KEY FEATURES

A diverse mix of use classes including retail, multifamily residential, single-family residential townhomes, hospitality, restaurants, and a fitness facility.
Strategic location in Huntsville, Alabama, leveraging the city’s growing economy and vibrant community life.
An expansive development area of 38 acres, carefully planned to optimize space utility and community integration.
A significant investment in the local economy, aimed at delivering high-quality infrastructure and amenities.
A comprehensive approach to community building, offering a balanced mix of living, shopping, recreation, and workspaces.

KEY FEATURES

A diverse mix of use classes including retail, multifamily residential, single-family residential townhomes, hospitality, restaurants, and a fitness facility.
Strategic location in Huntsville, Alabama, leveraging the city’s growing economy and vibrant community life.
An expansive development area of 38 acres, carefully planned to optimize space utility and community integration.
A significant investment in the local economy, aimed at delivering high-quality infrastructure and amenities.
A comprehensive approach to community building, offering a balanced mix of living, shopping, recreation, and workspaces.

LOCATION OVERVIEW

The property is located at 6884 Hollow Road NW in the heart of Huntsville, Alabama, a city known for its strong economy driven by industries such as aerospace, defense, and technology.
The area is in close proximity to Redstone Arsenal, a U.S. Army post that houses numerous high-tech companies and government agencies, providing a steady source of employment and potential business opportunities.
Huntsville is home to several prestigious research institutions, including the University of Alabama in Huntsville and the HudsonAlpha Institute for Biotechnology, fostering innovation and attracting a highly educated workforce.
Nearby attractions such as the U.S. Space and Rocket Center and Monte Sano State Park draw tourists and visitors to the area, potentially increasing foot traffic and visibility for businesses.
The property's location offers convenient access to major transportation routes, including highways and airports, facilitating the movement of goods and services and enhancing connectivity with regional and national markets.

LOCATION OVERVIEW

The property is located at 6884 Hollow Road NW in the heart of Huntsville, Alabama, a city known for its strong economy driven by industries such as aerospace, defense, and technology.
The area is in close proximity to Redstone Arsenal, a U.S. Army post that houses numerous high-tech companies and government agencies, providing a steady source of employment and potential business opportunities.
Huntsville is home to several prestigious research institutions, including the University of Alabama in Huntsville and the HudsonAlpha Institute for Biotechnology, fostering innovation and attracting a highly educated workforce.
Nearby attractions such as the U.S. Space and Rocket Center and Monte Sano State Park draw tourists and visitors to the area, potentially increasing foot traffic and visibility for businesses.
The property's location offers convenient access to major transportation routes, including highways and airports, facilitating the movement of goods and services and enhancing connectivity with regional and national markets.

PROPERTY DETAILS

The property includes four (4) parcels: ID: 14-01-12-1-000-009.002, 1.54 acres, zoned R1-B ID: 14-01-12-1-000-009.001, 15.67 acres, zoned R1-B ID: 14-01-12-000-009.003, 14.74 acres, zoned C-4 ID: 14-01-12-1-000-011.001, 6.30 acres, zoned R1-B
The property is currently vacant land with approximately 700 feet of frontage along North Memorial Parkway on the east, and approximately 1,153 feet of frontage on Hollow Road NW on the North. The site is located about 1.25 miles north of Alabama A&M University, 5 miles north of Huntsville city center.

PROPERTY DETAILS

The property includes four (4) parcels: ID: 14-01-12-1-000-009.002, 1.54 acres, zoned R1-B ID: 14-01-12-1-000-009.001, 15.67 acres, zoned R1-B ID: 14-01-12-000-009.003, 14.74 acres, zoned C-4 ID: 14-01-12-1-000-011.001, 6.30 acres, zoned R1-B
The property is currently vacant land with approximately 700 feet of frontage along North Memorial Parkway on the east, and approximately 1,153 feet of frontage on Hollow Road NW on the North. The site is located about 1.25 miles north of Alabama A&M University, 5 miles north of Huntsville city center.

ZONING

The property is currently located in both the Highway Business C-4 district and Residence 1-b (R1B) zoning district. Per the City of Huntsville Zoning Ordinance, the Residence District’s permissible uses include Single family dwellings; government buildings and public owned land properties; and Agricultural uses; and residential non-commercial gardens. Given R1B excludes attached residential dwellings, a variance would be required to allow for townhomes to be built on the subject property.
The Highway Business C-4 District allows retailing, major services, trade shops, and automotive repairs. It serves a larger population than the Neighborhood Business C-1 District, offers specialized services, and caters to travelers, tourists, trucks, and heavy traffic. Allowable uses in the C-1 District include various retail services, restaurant and food services, fitness centers, hotels, and multifamily developments.
Owner and Sponsor Developer anticipates receiving approval of the rezoning application for the entire property as either C-4 or Residence 2-B, which allows for townhome development. If any parking reductions are projected, an additional variance is likely required.

ZONING

The property is currently located in both the Highway Business C-4 district and Residence 1-b (R1B) zoning district. Per the City of Huntsville Zoning Ordinance, the Residence District’s permissible uses include Single family dwellings; government buildings and public owned land properties; and Agricultural uses; and residential non-commercial gardens. Given R1B excludes attached residential dwellings, a variance would be required to allow for townhomes to be built on the subject property.
The Highway Business C-4 District allows retailing, major services, trade shops, and automotive repairs. It serves a larger population than the Neighborhood Business C-1 District, offers specialized services, and caters to travelers, tourists, trucks, and heavy traffic. Allowable uses in the C-1 District include various retail services, restaurant and food services, fitness centers, hotels, and multifamily developments.
Owner and Sponsor Developer anticipates receiving approval of the rezoning application for the entire property as either C-4 or Residence 2-B, which allows for townhome development. If any parking reductions are projected, an additional variance is likely required.