Condo News,
The design will be a problem I bet. Lazy architecture at work here
Condo tower planned alongside Big Spring
Summit developers announce plans for 2nd building
Saturday, December 24, 2005
By JOHN PECK
Times Staff Writer,
[email protected]
Developers of the Big Spring Summit office tower unveiled plans Friday for a second high-rise building that will feature condominiums and possibly some retail venues along the edge of the Big Spring International Park lagoon.
Construction on the eight-story addition should get under way by summer, said William Stroud, a partner in Triad Properties. The building would stretch further along the waterfront from the Summit building.
Mayor Loretta Spencer, City Planning Director Dallas Fanning and City Attorney Peter Joffrion joined officials with Triad and the Fuqua & Partners Architects firm Friday to discuss the project with Times editors and reporters.
Spencer, citing other downtown projects under way, said the expansion is further proof that Huntsville's inner core is on the move. "There are other people (developers) looking at this town because downtown is hot as we said it would be," she said.
The Summit addition, dubbed on drawings as Ovation Condominiums, comes two years after a divided City Council approved the Summit building for the southeast portion of the municipal garage in Big Spring International Park. The development deal gave Triad a two-year option for a second building along the waterfront.
Stroud said the new building will feature mostly condominiums, but may also offer some office and retail space. "What we're contemplating is a facility that will be mixed use," he said. "It will be demand driven, but at this point, we're looking at a high concentration of residential condos."
Preliminary plans call for 40 to 52 condominium units, ranging in size from 1,100 to 3,500 square feet. Friday's briefing by Fuqua's Paul Matheny proposed "penthouse" condos on the upper two floors with smaller condos on floors 3 through 6.
Stroud said plans for the first two floors should materialize once Triad and its marketing team can determine the demand. Designers need that "flexibility" because large-scale urban living places are still a relatively new concept for Huntsville's downtown. "In many respects, we're moving into uncharted territory," Stroud said.
Spencer commended Triad's willingness to invest in downtown. The city partnered with Triad by agreeing to lease Triad the space beside the park for its buildings in exchange for the so-called "air rights" to add two levels to the VBC parking garage. "We get blasted for it, but you would not see things happening in this town if we did not have these public-private partnerships," Spencer said. "The city can only carry so much of the weight."
Because the option clause for Phase II was embodied in Triad's original development agreement the City Council approved in December 2003, the new condominium building won't require council action. The City Planning Commission, however, must sign off on the final design.
Stroud is confident the second building will offer restaurants and other retail venues to serve Summit workers, condo dwellers, park visitors and others. More than a dozen potential buyers have already expressed interest in the condos even though marketing efforts haven't begun yet, he said.
While the city is adding two decks and 348 slots to the existing 942-slot VBC garage, Triad owns the rights to lease back 300 of those spaces. The second phase of Triad's project will take some of those spaces, resulting in a small net gain of roughly 40 public spaces. A city department formerly occupied nearly 50 of those spots.
Fanning said the city will still come out ahead because many of the Summit's spots will be freed after 6 p.m. daily and on weekends to rent back out to other motorists. Spencer said the city plans to beef up downtown shuttle bus service to encourage motorists to use other public parking areas if the VBC garage is full.