HUNTSVILLE, Ala. (WAFF) - On Thursday, construction begins on a new five-story office building located at the corner of Greene St. and Holmes Ave. in downtown Huntsville.
The project is a joint effort between Prince Holdings and Bank Independent. Tim Singleton, area president for Bank Independent of Huntsville/Madison County believes the building could create a new center of activity for downtown Huntsville.
The building will be located directly across the street from the city’s new parking deck, which influenced the decision to build.
“The Prince family has been working on this since 2016,” Singleton said. “Once the city announced the parking deck, the project was a go. We have been working with architects and general contractors to try to put the plans together. So we are really excited about the groundbreaking.”
The 77,000 square foot plan offers class A office space and ground floor retail opportunities. Bank Independent will be housed on the 5th floor and a restaurant is preparing to take over part of the bottom floor. That leaves three floors of retail and office space open for lease.
Despite the pandemic, Singleton says the demand for functional office space is still very high and will continue to grow.
“So we are talking about 50,000 more jobs in the Huntsville area in the next three to five years,” Singleton said. “That is a tremendous population explosion and we need places for them to work, places for them to live and places for them to recreate so we are just happy to be a part of this vibrant downtown.”
The project will take about 15 to 18 months to complete but you can expect to see progress on the site almost immediately.
Thursday’s groundbreaking is at 10 a.m. Anyone in the community is welcome to attend.