BP money helps top off mega-project | FoUpdated: Wednesday, 13 Apr 2011, 2:18 PM CDT
Published : Wednesday, 13 Apr 2011, 10:29 AM CDT
Originally Published by FOXTV 10
Link: http://ht.ly/1car9A
Matt Barrentine
Photojournalist: Franz Barraza
Orange Beach, Ala. (WALA) - TOPPED OUT
A mega-project in Orange Beach passed a milestone Wednesday. The 358-unit Phoenix West condo tower was “topped out” as the concrete core of the building was finished. This is a project that was nearly put on hold by the oil spill.
It took more than 37 million dollars from BP to put the largest construction project in Alabama back on track. But here it is… the Phoenix West two condo in Orange Beach Wednesday afternoon it was “topped out” an expression that means the concrete core of the building has been completed.
Developer, Gene Brett, from Brett Robinson, said, ”Just never give up. That’s what were doing. That’s what we’ve done. The completion is in sight.”
Brett is excited the money negotiated from BP has the building back in the red. Last year, during the oil spill, pre-sales of the units nearly ground to a halt.
”Construction never stopped, “ Brett said, ”but it was a much lower pace than we needed to complete the building in a timely fashion.”
60 PERCENT SOLD
Brett said now 60 percent of the 358 units have been pre-sold and he’s hopeful the property will continue to draw more investors.
”The first quarter… first few months of this year have been great,” Brett told us.
A MASSIVE PROPERTY
By square footage Phoenix West II will be the largest building in Alabama and only the RSA tower in Mobile will be taller. It will be constructed at a total cost of 245 million dollars. Architect John Senkarik told us the building is built to withstand the worst, with 34 miles of concrete piles anchoring it to the ground.
”If you lined them up end to end they would go from downtown Orange beach to Mobile,” Senkarik said.
Turning the massive concrete skeleton into a fully functioning condo tower will take another two years. Hopefully long enough for developers to put the oil-plagued summer of 2010 well behind them.
BP GAG-ORDER
The developers can’t talk about specifics of the financial arrangement with BP. Like many others, they’ve had to sign a legal release with the oil giant.
x10tv.com: "BP money helps top off mega-project"
Ft. Mcree @ Pensacola Pass
Click on the image to search local Condominiums on Perdido Key
Showing posts with label Orange Beach Economic Development. Show all posts
Showing posts with label Orange Beach Economic Development. Show all posts
Wednesday, April 13, 2011
Monday, December 27, 2010
New store for Orange Beach
New store for Orange Beach - Baldwin County NOW - A Gulf Coast Information Source for South Alabama: "New store for Orange Beach"
Orange Beach officials have announced that a large empty retail location once occupied by Bruno’s will soon be home to Neighborhood Market, a grocery store chain that is affiliated with Walmart.
Bruno’s on Perdido Beach Boulevard closed in 2009, shortly after the grocery store chain filed Chapter 11 bankruptcy, leaving the 42,000 square foot space empty for several months.
Sales at the Orange Beach location fell dramatically following the opening of the Publix Supermarket nearby.
Although it is not certain when the store will be ready for a grand opening, it is estimated that the Orange Beach Neighborhood Market will employ close to 100 locals.
“I am glad that those folks are moving in there,” said Councilman Jeff Silvers at a recent council work session. “I think it will be an asset to the whole neighborhood.”
Launched in 1998 as Walmart Neighborhood Market, the average size of the store is normally 40,000 square feet, a quarter of the size of a typical Wal-Mart Supercenter.
Many of the Neighborhood Markets are located in smaller Southern markets and are relatively close to existing Walmart Supercenter stores. The Orange Beach Neighborhood Market will be the first of its kind in Baldwin County.
In addition to the 28,000 general grocery items, the store will offer a bakery, deli, snacks, liquor, meat and a pharmacy. There are presently more than 180 Neighborhood Market locations.
“It is going to employ people that are not there now, that is what I see,” said Allen McElroy, and Orange Beach resident.
Orange Beach officials have announced that a large empty retail location once occupied by Bruno’s will soon be home to Neighborhood Market, a grocery store chain that is affiliated with Walmart.
Bruno’s on Perdido Beach Boulevard closed in 2009, shortly after the grocery store chain filed Chapter 11 bankruptcy, leaving the 42,000 square foot space empty for several months.
Sales at the Orange Beach location fell dramatically following the opening of the Publix Supermarket nearby.
Although it is not certain when the store will be ready for a grand opening, it is estimated that the Orange Beach Neighborhood Market will employ close to 100 locals.
“I am glad that those folks are moving in there,” said Councilman Jeff Silvers at a recent council work session. “I think it will be an asset to the whole neighborhood.”
Launched in 1998 as Walmart Neighborhood Market, the average size of the store is normally 40,000 square feet, a quarter of the size of a typical Wal-Mart Supercenter.
Many of the Neighborhood Markets are located in smaller Southern markets and are relatively close to existing Walmart Supercenter stores. The Orange Beach Neighborhood Market will be the first of its kind in Baldwin County.
In addition to the 28,000 general grocery items, the store will offer a bakery, deli, snacks, liquor, meat and a pharmacy. There are presently more than 180 Neighborhood Market locations.
“It is going to employ people that are not there now, that is what I see,” said Allen McElroy, and Orange Beach resident.
Subscribe to:
Posts (Atom)