7-story condominium tower back on track for downtown
Developer says construction set to begin by summer
Wednesday, February 16, 2005
Just months after shelving construction plans and refunding down payments, the developer of a seven-story condominium tower downtown is moving ahead with the project.
The city Board of Zoning Adjustment approved several variances Tuesday night for Thornton Properties to build a mixed-use development called 301 East. It will be at the intersection of Green Street and Holmes Avenue; a Shell gas station once occupied the site.
"We'll finish up the drawings and go out for bid around the end of March," said architect Bill Peters. "We should be under construction by May or early summer." The building could be ready for occupancy by summer 2006, he said.
Joe Vallely, economic development director for the city, said the condominium complex, with its ground floor retail space, should help boost Huntsville's downtown revitalization efforts.
"We've got downtown living. These loft developments have gone over well in Birmingham and other big cities," Vallely said. Adding permanent residents downtown should help encourage more retail development there, possibly even a grocery store, Vallely said.
Developer Steve Thornton began clearing the site in January 2004. Rising construction costs and other factors led Thornton to put his plans on hold. The project was redesigned by reconfiguring the condos and adding more retail space on the ground floor, which would bring in more revenue. Peters expects a restaurant and specialty shops to fill the commercial space.
The current zoning sets certain building height restrictions and setback limits between the building and property line. The variance authorized Tuesday night grants waivers that:
Will allow seven stories instead of three for that type of development. The structure will rise 102 feet.
Increases a population density allowance to permit construction on a 20,000-square-foot lot instead of the required 24,000 square feet.
Drops buffer requirements to permit the building to abut sidewalks along Green Street and Holmes Avenue. The setbacks would otherwise be 20 feet and 30 feet, respectively. A rear yard setback between the building and the Todd Towers property next door was also waived.
Officials say the building will be 67,380 square feet and feature condos offering from 900 square feet to 2,400 square feet. A 3,000-square-foot penthouse will occupy the seventh floor.
Thornton, who retired in 2002 as CEO of Huntsville's Avocent Corp., formed the development company with a focus on downtown. He and his wife, Judy, live in the Twickenham Historical District and were looking for a real estate investment that would help others enjoy downtown. Their son, Derek, is general manager of Thornton Properties.
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