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Front Row Development in Huntsville, Ala., Lands Key Construction Financing Deal

Wed January 24, 2024 - Southeast Edition
Huntsville Business Journal & Al.com


CGI rendering of aerial view of Front Row, looking North.
Rendering courtesy of Front Row Huntsville
CGI rendering of aerial view of Front Row, looking North.

The successful closure of a $115 million construction financing deal for Front Row, a substantial project being planned in the heart of downtown Huntsville, Ala., has jointly been announced by Essex Capital and Ascend Property Group.

The project is positioned to be one of the Southeast region's largest and most anticipated developments.

Front Row will span more than 11 acres, comprising 545 high-end residential units, 36,000 sq. ft. of Class-A office space and 47,000 sq. ft. of retail space. In collaboration with Huntsville's Crunkleton Associates, the exclusive leasing broker for the retail component of the project, the aim is to create a comprehensive dining, entertainment and commercial experience for the local market.

Designs call for a pair of six-story buildings with residential, office and retail components, surrounding a central urban green space for outdoor activities.

Construction on Front Row should get under way within days, the Huntsville Business Journal reported Jan. 23, and is likely to deliver retail space by late 2025, with apartments and office spaces ready for occupancy by early 2026. Details on an additional phase, including a boutique hotel, a Class A office tower, luxury condominiums and more, will be disclosed at a later date, according to Huntsville Business Journal.

The project promises to be transformational once completed. The first phase will bring two buildings fronting Clinton Avenue from Pinhook Creek to Monroe Street directly across from the Von Braun Center that will include apartment units, restaurant/retail space, office space and a large parking garage.

Front Row is designed to introduce modern design to the city's evolving downtown core. Its construction aligns with major growth initiatives in the district, coinciding with other nearby projects like the recently announced Riverwalk and the upcoming pedestrian Skybridge connecting downtown with the Lowe Mill ARTS & Entertainment district.

Additionally, Front Row will connect key areas such as Big Spring Park, Fountain Circle, the University of Alabama at Huntsville campus, and the Downtown Greenway. Positioned as an interlink with the Von Braun Center development, it is sure to contribute to the city's reputation as a dynamic urban center.

Construction Crews Ready to Move On Site

Al.com noted that Shane Davis, Huntsville's director of urban and economic development, last fall outlined the updated construction schedule for the council for a project that first received city approval almost 2½ years ago. Until January, though, nothing happened at the vacant site.

Despite the delays, the project remains on track with a capital investment of almost $400 million, he said.

Planned for the site of the former Coca-Cola bottling plant on Clinton Avenue, Front Row began to gather steam after the Huntsville City Council approved an "amended and restated development agreement" with the project developers in November, including New York-based Rocket Development Partners LLC — the original developers — and major equity partners Huntsville Phase I QOZB LLC and the developer's equity piece Front Row Huntsville Owner LLC.

As suggested in its name, Huntsville Phase I QOZB LLC is only a part of the first phase of the development.

The agreement stated that Phase I construction will take four years to complete; Phase II is to begin by Nov. 1, 2029, and take three years to complete.

In the second phase, the city plans to lease 400 spaces in a newly built parking garage and make the planned improvements on Pinhook Creek on the development's western border.

The amended development agreement calls for a "convention-type quality or boutique-style hotel" with at least 100 rooms. Davis said the developers' goal is a full-service hotel with more than 200 rooms and as much as 30,000 sq. ft. of meeting space that would help the Von Braun Center attract larger conferences.

The developers have assumed the cost of the public plaza, which is reducing the city's infrastructure investment.

According to Davis, the city's investment will be about $16 million, which will be recaptured in three years. The city had already planned to build a road on the development's western border connecting Clinton Avenue and Holmes Avenue. A new road also will be constructed through the development connecting the new road with Monroe Street.




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