Colonial Commercial Realty, Inc.

The Colonial Company – New Projects

admin — Fri, 01 Feb 2008 20:34:18 +0000

“We’re trying to bring people together, not isolate them” says Anna Lowder.
Some of you inquired about it, so we checked it out. The whole idea behind the Hampstead community off Taylor Road is to step back in time, and in essence, make living a little easier for residents.
“It’s being built around the concept of traditional living,” said Anna Lowder of City Loft Corporation.
A project that was 2-and-a-half-years in the making, work is now well underway on the community of Hampstead. The first two buildings going up will be used for retail and office space.
“Those two buildings are around 16 to 17 million dollars,” said Harvi Sahota also of City Loft Corporation.
“We’re about 60% leased with those buildings,” Lowder said.
Hampstead’s Main Street will run between the buildings, a street that will eventually lead to some 150 homes as part of phase one.
“We want to go back to the old way of living where streets are connected, and people can meet their daily needs within walking distance,” Lowder said.
Anna Lowder says Hampstead is a reflection of a trend that started in the mid-80s across the country, more and more communities being built within the city like Rosemont which was built years ago. Some are gated, although Lowder says Hampstead will not be.
“We’re trying to bring people together, not isolate them,” she said.
And Lowder believes Hampstead will be different, unlike anything in Montgomery. Plans call for a town square, two churches, apartments, townhouses, a lake, even a school.
“We’ve had interests in a private school or an elementary public school,” Lowder.
Montgomery County school officials say at least for now they have no plans to build a new school in the Hampstead community.
When it’s all done Hampstead will have around 1,800 homes, ranging from $150,000 to 1 million.
“We feel this will be a place where you don’t have to rely on cars,” Lowder said.
Phase one opens in June.

Mobis Plant Adds Distribution Center

admin — Fri, 13 Feb 2004 20:58:24 +0000

By Tiffany Ray
Montgomery Advertiser
Mobis Alabama, a tier one Hyundai supplier, not only will take over the plastic injection molding business left behind by Venture Industries, but will add a third prong to its Montgomery operations: a distribution center for service parts.
The announcement, made Thursday by company and officials at the Montgomery Area Chamber of Commerce, is the latest twist to news reported last week that the company will expand its Montgomery-based plant to include a plastic injection molding facility to provide bumpers and other parts for Hyundai vehicles.
The company was originally scheduled to provide cockpit modules and front and rear chasssis for Hyundai from a new plant that is nearing completion in Montgomery. The original deal brought with it a $30 million investment and about 350 jobs.
Combined, the two additional facilities will bring in another 515 jobs and $90 million in capital investment. That brings Mobis’ total investment in Montgomery to $120 million, with about 865 new jobs.
“I don’t think any of us anticipated just how big this was going to be,” said Carl Barranco, current chairman of the Montgomery chamber, referring to Hyundai’s decision to locate in Mongtomery.
Barranco said Mobis was not only the first tier one Hyundai supplier to announce plans last year to locate in Montgomery, but that the original announcement was “the first hit of a big long triple.”
Montgomery Mayor Bobby Bright said Mobis, on Montgomery’s west side near the airport, would provide help to “sections of the city that are in need.”
“When you’re successful, as I know you will be, the city of Montgomery will be successful,” Bright said.
County Commissioner Elton Dean said Mobis could do for the west side what Gunter Industrial Park did to help spur growth to the east.
With its new plastics component, Mobis will take over most of the business that was originally expected to go to Venture Industries Corp. Venture was previously slated to make platics for bumpers and other car components for Hyundai from a plant in Prattville. That deal fell through in December.
Bright said the transfer of that business to Mobis was not at the expense of neighboring Prattville and stressed that area officials stepped in to put the deal together in order to ensure those jobs stayed within the region.
Mobis will receive some $1.2 million in incentives as part of the deal. Included in that amount are added water and sewer lines, additional roadwork near the plant, and 80 acres of additional land.
The original deal also was worth about $1.2 million in incentives, which included road improvements and 82 acres of land. Officials credited that earlier investment with laying the groundwork for the expansion and expressed hope that the new investment would pay off down the road with news of continued growth.
Laurie Young, a Regions Bankanalyst and Millbrook resident, said the news was “great.”
“Anything we can do to bring quality jobs to Montgomery is wonderful,” she said.
But Skip Jackson of Montgomery, who runs his own courier service, questioned how many of those new jobs would go to Alabamians, and what sort of promotional opportunities would be offered to workers.
“A lot of those people are going to jump in, but they’re not thinking of tomorrow,” he said. Tim Wang, director of corporate development for the Chamber of Commerce, said the “expansion, even more than the new plant location, is affirmation of the quality of our community.”
The company has been in the area, has worked with local officials and has hired local workers. And they have decided to do more here.
“That’s the best advertising you can get,” Wang said.
Rep. John Knight Jr., D-Montgomery, said he was confident the city would see even more growth at Mobis in the future.
He said Hyundai and its related industry has been good not only for Montgomery but for the state of Alabama.
Mobis will complete construction on the original plant next month, said Mobis Alabama President H.M. Rhyoo. Construction of the injection molding plant is already under way, he said, and has a target completion date of Oct. 15. The distribution center is slated to open the following year.

City RSA Ink Four Star Hotel Deal

admin — Wed, 28 Jan 2004 20:01:08 +0000

Local News – January 28, 2004 Montgomery, Alabama

City, RSA ink 4-star hotel deal

By William F. West
Montgomery Advertiser

With the stroke of a pen, the city of Montgomery and the Retirement Systems of Alabama made the first moves toward transforming an aging Civic Center into a convention center, four-star hotel and fine arts theater.

Mayor Bobby Bright on Tuesday signed a letter of intent with RSA and Alabama Real Estate Holdings for what is anticipated to be a more than $80 million joint venture.
Asked how he felt, Bright said, “Relieved to a degree, but now the work really starts. This gives us the opportunity to start negotiating, start doing the pictures, the architectural designs.”

“Hopefully, we’ll be able to pull that off,” David Bronner, RSA’s chief executive for approximately 30 years, said when reached at his home Tuesday evening.
No timetable has been set for completion of the project.

“Even if you fast track it, it’ll still be a number of months before you start moving dirt around,” Bronner said. “You can do a little bit, but you can’t do a whole lot until you get the architect — and that takes time.”
Bronner said the Civic Center, which opened along Bibb Street in 1976, was nice at the time, “but it’s really dated.”

“You’ve got to get with the current program to be competitive with other facilities,” he said. “That’s what enhances the quality of life, and that’s what attracts more industry, which attracts more jobs, which does everything.”

The city’s central business district is already the scene of much investment — including construction of a $26 million minor league baseball stadium at the corner of Coosa and Tallapoosa streets and the debut last fall of a $2.5 million amphitheater. Crews also are building a parking lot near the baseball stadium, and plans call for construction of an approximately $15 million structure to house a bus station and car park across from Union Station.

The next steps for Bright and Bronner on the convention center project will be signing the contracts for construction of buildings as well as the management agreements.

Reaction to the news from downtown business owners has been positive; one City Council member, though, is withholding judgment.

“I just need to read it and digest it before I start making comments,” said James Nuckles, City Council President pro tem, when reached Tuesday night. He said he is going to reserve giving his opinion until he has more time to examine the documents.
Others are more upbeat.

“I’m extremely pleased to hear it,” said John W. Morgan, president of GroSouth, headquartered in an old-style feed and seed store in downtown Montgomery.

“I think it will be a great boost, not only to downtown, but to Montgomery and central Alabama in general,” Morgan said. “It’ll enable us to bring a lot of conventions and meetings here that we have just not been able to handle.”

“That’s fantastic,” said Alan Weil, owner of Weil’s Inc., which sells urban fashions.

“I just think it’s going to bring more people to downtown — and that, in combination with the baseball team, should do nothing but rejuvenate downtown and bring more people down here,” Weil said.

“I’m thrilled,” said Rosa Zimmerman, who opened the Pottery Loft CafÈ several months ago. “I’m excited to hear that.”

County Commissioner Lynn Gowan said, “It’s probably the single biggest thing that’s probably going to contribute to the development of our tourism and convention industry. It’s something that should have been done two to three years ago.”

County Commissioner Elton Dean, an Alabama State University trustee, said he doesn’t mind the complex being near the campus.

“We need a four-star hotel, and we need to have all the other amenities that go with it because we’re going to be big in tourism,” he said. “I think it’s a very good move.”
“I think it’s tremendously exciting because I think it has such potential,” said Virginia Whitfield, community affairs director for Whitfield Foods, which markets Alaga Syrups and has been in business for nearly a century.
“I think it’s wonderful to have that backing,” Whitfield said of Bronner’s support.

Bronner, 59, took a nearly broke retirement fund during the George Wallace era and produced investments in the billions of dollars. Bronner opened a set of RSA buildings in downtown Montgomery and later added the 22-story RSA Tower.

RSA funds were used to construct the Robert Trent Jones Golf Trail and revitalize the Grand Hotel along the Alabama Gulf Coast. RSA funds also support television stations and newspapers in the region.

Alabama Real Estate Holdings, an affiliate of RSA, came to City Hall last summer expressing an interest in making a $29 million loan to the city to expand the Civic Center. Bright said he expects Alabama Real Estate Holdings will provide up to $54 million for the new hotel.
“What we’ve tried to do is diversify the portfolio so that we wouldn’t be strictly at the whims of Wall Street,” Bronner said.

CCIM Capital Hill Visit

admin — Mon, 22 Dec 2003 20:01:44 +0000

Capitol Hill Visits

CCIMs and CPMs at the Library of Congress.
Photo courtesy of Photographics of Washington, D.C.
OVERVIEW
On April 29, 2003, 80 CCIMs and 220 CPM©s participated in the 2003 IREM/CCIM Capitol Hill Visits. These CCIMs, CPM©s and ARM©s attended 160 meetings scheduled with Congressional offices in order to educate legislators about commercial real estate investment and management issues. A summary of that platform follows, along with status reports and a tally of Representatives and Senators who, as a direct result of the IREM/CCIM Capitol Hill Visits, signed on as co-sponsors. The date corresponding with the Legislators’ names indicates when their signature was recorded.

In addition, Sen. Richard Shelby of Alabama and primary sponsor of the Community Choice in Real Estate Act was awarded the IREM/CCIM Legislator of the Year Award. Eric Higgins, CCIM and Mary Carolyn Boothby, CPM, both from Alabama, as well as CCIM and IREM Presidents, Barry Spizer, CCIM and Patty Nooney, CPM, CCIM, were on hand to personally award Sen. Shelby for his outstanding efforts in championing commercial real estate issues on Capitol Hill.

From left: Bob McMillan, RPAC; Sen. Richard Shelby, AL; Eric Higgins, CCIM; Mary Carolyn-Boothby, CPM.
Photo courtesy of Photographics of Washington, D.C.

Photos
All of the photos here are courtesy of Photographics of Washington, D.C. To obtain prints of the photos you see here and others, go to http://www.pgphotography.net and enter password “IREM” where prompted. The Capitol Hill Visit photos are located on pages 12- 14. A link will be provided for a request form and price list.
ISSUES UPDATE
Bankruptcy Reform
We support four bankruptcy provisions – eliminating the cap on single asset bankruptcy, providing protections for shopping center owners, requiring repayment of condominium association and homeowners’ association fees, and eliminating the loophole for residential rental tenants.

The House has passed HR 975. There is still no bill in the Senate. Leadership in the Senate is hoping they can bring HR 975 directly to the floor, avoiding a conference. Any such activity is expected after the Independence Day holiday.

Encourage your U.S. Senators to bring H.R. 975 to the floor of the Senate for consideration.

Federal Reserve/Department of Treasury Proposed Rule
We oppose changes or interpretations in present federal regulations that would permit any banks or bank holding companies or subsidiaries to enter the field of real estate brokerage and property management beyond properties owned by these institutions.

HR 111 now has 231 co-sponsors. There are 18 co-sponsors in the Senate. With more than half of the House of Representatives supporting the legislation, we will continue to urge for the bill to be brought to the floor for a vote.

H.R. 111 – Community Choice Cosponsors

Rep. George R. Nethercutt, Jr. (WA) – 4/30/2003
Rep. Thomas E. Petri (WI-6) – 5/9/2003
Rep. Trent Franks (AZ-2) – 5/20/2003
Rep. Denise L. Majette (GA-4) – 5/21/2003

S. 98 – Community Choice Cosponsors

Sen. George V. Voinovich (OH) – 5/15/2003
Sen. Harry M. Reid (NV) – 5/19/2003
Sen. John E. Ensign (NV) – 5/19/2003
Sen. Barbara Boxer (CA) – 5/20/2003

Ask your U.S. Representative and/or Senator to cosign H.R. 111 or S. 98 if they have not already done so.

Depreciation/Tenant Leasehold Improvements
We support reducing the depreciable lives tenant improvements to 10 years from 39 years, to conform more closely to the term of the lease.

The recently passed tax bill, The Jobs and Growth Tax Relief Reconciliation Act (JGTA), included provisions expanding bonus depreciation for leasehold improvements. A temporary 30% bonus depreciation provision was enacted in March 2002 that applies to all equipment and to leasehold improvements. That provision was scheduled to expire on September 11, 2004. The recovery period for leasehold improvements remains at 39 years. Thus, for the duration of this provision, a taxpayer making leasehold improvements may deduct 50% of the cost of the improvement plus 1/39th of the remaining amount of the investment. The so-called “close out” provisions of current law remain in effect, so remaining balances may be deducted at the termination of a lease.

The JGTA increases the bonus to 50% for property acquired and placed in service after May 5, 2003 and before January 1, 2005. To be eligible for the 50% allowance, any binding contracts (or an agreement to purchase) must have been entered into after May 5, 2003. Property subject to a contract before May 6, 2003 will continue to qualify for the 30% bonus.

Both the 30% and 50% bonus provisions will expire January 1, 2005. (This has the effect of extending the 30% bonus from its original expiration of September 11, 2004 through to the end of 2004.) In limited circumstances, property will remain eligible for bonus depreciation until January 1, 2006, so along as a binding contract was in place before January 1, 2005.

When the bonus rules expire, the depreciable life for leasehold improvements will remain at its current level of 39 year.

HR 1634 – Tenant Leasehold Improvements Cosponsors

Rep. William H. Jefferson (LA-2) – 4/30/2003
Rep. David Vitter (LA-1) – 4/30/2003
Rep. George R. Nethercutt, Jr. (WA-5) – 4/30/2003
Rep. Dale E. Kildee (MI-5) – 5/15/2003
Rep. Ernie Fletcher (KY-6) – 6/2/2003
Rep. Thomas Tancredo (CO-6) – 4/30/2003
Rep. Ed Pastor (AZ-4) – 5/15/2003
Rep. Zach Wamp (TN-3) – 5/15/2003
Rep. Rush D. Holt (NJ-12) – 5/22/2003

S. 576 – Tenant Leasehold Improvements Cosponsors

Sen. Saxby Chambliss (GA) – 6/3/2003

ADA Notification
The Americans with Disabilities Act does not allow plaintiffs to collect damages for violations to the law. Instead, defendants who lose must pay plaintiffs’ legal fees. Unscrupulous attorneys have taken advantage of these opportunities to rake in high fees. We support notification to property owners prior to legal action.

There are now 48 cosponsors in the House. The House Committee on Small Business held a hearing on this issue. The bill has been referred to the Subcommittee on the Constitution, of the House Judiciary Committee.

H.R. 728 – ADA Notification Cosponsors

Rep. George Nethercutt, Jr. (WA-5) – 4/29/2003
Rep. Lee Terry (NE-2) – 5/7/2003
Rep. Joe Barton (TX-6) – 6/3/2003

Ask your U.S. Representative or Senator to cosign H.R. 728 if they have not already done so.

Expensing of Building Security Equipment
In the wake of September 11, property owners nationwide are taking steps to improve the security of their properties to protect their tenants, visitors, and guests. We believe these significant expenses should be tax deductible; to assist building owners in more immediately meeting the security needs of our nation.

The 50% bonus depreciation provision noted above applies to any purchase of equipment or to leasehold between now and 2005. If categorized as such, security equipment would be included. However, the expensing provision will phase out and will no longer be available if total investment in equipment/leasehold exceeds $400,000.

HR 1259 – Building Security Equipment

Rep. Jim Gibbons (NV-2) – 5/19/2003
Rep. Steve Chabot (OH-1) – 5/19/2003
Rep. Sue Myrick (NC-9) – 5/19/2003
Rep. Ernie Fletcher (KY-6) – 6/2/2003

CCIMs and CPMs at the Library of Congress.
Photo courtesy of Photographics of Washington, D.C.

EastChase Adds Three New Stores

admin — Thu, 18 Dec 2003 20:04:01 +0000

EastChase adds 3 stores

By Mike Sherman
Montgomery Advertiser

Construction continues Wednesday at the new shopping center in EastChase that will contain PETsMART, Ross Dress for Less and Cost Plus World Market.
– Photos by Julie BennettAdvertiser

An import market with furniture, foods and wines, a name-brand and designer apparel store, and a superstore for pets are under construction at EastChase.
Will Wilson is vice president of development for Jim Wilson and Associates, a 50-50 partner with Alfa in the sprawling development south of Interstate 85 and east of Taylor Road in eastern Montgomery.
Wilson said a Cost Plus World Market, Ross Dress for Less store, and a PETsMART are going up south of the recently opened Target in EastChase Plaza.
“All three are brand new to the market, so we didn’t steal from another place. It shows Montgomery is getting newer stores to come to town,” Wilson said.
Shopper Suzanne Webb, who is an aide to Attorney General Bill Pryor, said, “I absolutely will shop those new stores,” as she left Target Wednesday afternoon. “We live out here, and so they will be very convenient,” the Pike Road resident said.
More development is expected at the Plaza portion of EastChase. About 30,000 square feet of space for small business will be available. Wilson said he is negotiating with sporting goods, shoe and ready-to-wear stores and a hair salon.
Wilson said capital investment in the Plaza portion of EastChase is $15 million.
Cost Plus World Market, which opened its first import store in 1958 in San Francisco and still operates on Fisherman’s Wharf, offers furniture, lamps, floor and window coverings, collectibles, tabletop and kitchen accessories, gourmet foods and wines. As of Nov. 19, the company operated 204 stores in 26 states, expanding from 175 stores last year.

Electricians work on lighting Wednesday inside the shopping center under construction in EastChase in Montgomery.
A call to Cost Plus headquarters in Oakland, Calif., was not immediately returned.
PETsMART, based in Phoenix, Ariz., is the nation’s leading retail supplier of products and services for pets. It operates more than 600 pet superstores in the United States and Canada. The PETsMART closest to Montgomery are in Columbus, Ga., and Dothan.
The standard PETsMART store is about 20,000 square feet. The company offers pet supplies, food, grooming, training classes, small animals, wild bird supplies, domestic birds and adoption centers in association with local animal shelters.
Andrea Davis, a spokeswoman for the company, said the target date for opening is April 1. The typical store work force is 30-40 full- and part-time associates, she said.
Most stores include a Banfield pet hospital, she said.
“We work with animal welfare organizations. PETsMART screens them and they become approved adoption partners. Then we provide space so pets can be adopted at the stores. Any fees go to the adoption partner,” Davis said.
Katie Loughnot, vice president for investor relations, said a May 2004 grand opening is scheduled for a 30,187-square-foot Ross store.
“Alabama is one of our newest markets, and an outgrowth of our Southeast expansion strategy. We entered the Southeast in 2001 and our goal is to grow rapidly,” Loughnot said. Ross also plans to open stores in Hoover and Mobile in 2004.
“We will end 2003 with 568 stores in 25 states and we expect to generate almost $4 billion in sales,” Loughnot said. The company’s headquarters is in Newark, Calif., in the San Francisco Bay area. Ross began in 1982 with six stores in the same area.
Ross’ target customers are women and men between the ages of 25 and 54 with middle to upper-middle income levels.
The average Ross store employs 40-50 full- and part-time workers, she said.
Developer Wilson said he is pleased with continuing development at EastChase.
“Ever since the project opened, it has really taken off great. It slowed as the economy slowed, but Dillard’s is working toward a March opening and Target is open,” he said.
“We have 130 acres to go, and I think the people of Montgomery are happy with the quality and what we have delivered,” he said.

Bruno’s to Open East Location

admin — Fri, 03 Oct 2003 20:05:23 +0000

By Mike Sherman
Montgomery Advertiser

A new Bruno’s under construction off Mt. Meigs Road will have a drive-through pharmacy.
– Karen S. Doerr, Advertiser

The developer of the new Chantilly Corners shopping center expects its new Bruno’s anchor store to open next month.
The center is on the southwest corner of the intersection of Chantilly Parkway and EastChase Parkway, east of the EastChase development.
Signage is up for Bruno’s, and interior work is under way on the 53,000-square-foot store that will include a Vincent’s Market and a pharmacy with a drive-through window.
“This will be their premiere presentation. It will be, in my opinion, the nicest grocery store in the city, bar none,” said LeRoy McEntire, developer of the Chantilly Corners project.
Bruno’s is accepting employment applications for the new store at the site and at other Bruno’s stores in the area.
William Beckford, customer service manager at the Bruno’s on Bell Road, said, “It is a brand-new thing and not a replacement of any other Bruno’s in town.” The Birmingham-based grocery chain is owned by Ahold, an international firm based in The Netherlands.
“Bruno’s will have a huge wine selection, seafood and fresh vegetables,” McEntire said.
Bruno’s shopper Catherine Anderson lives across town from the Bruno’s on Perry Hill Road, but shops there because her daughter lives near it.
“I like walking in and seeing the arrangement of their flowers and the section with the fruits and vegetables. I love their prices, and their meats. The store is clean and I can find what I want. On my side of town, I don’t find everything that I need. My husband worked security while the new store was under construction, and he said it will be a great store,” Anderson said.
A hearing is set for 7 p.m. Oct. 21 for Bruno’s request for on- and off-premise beer and wine sales for the new store.
There will be 13 other smaller tenants in the 80,000 square foot Chantilly Corners development, McEntire said. They will include Worth Cleaners, Minnie Brown Road, on the western side of the property. Other tenants include a Head Start Hair Salon, Express Nails and Larry’s Subs. McEntire says he hopes to sign a restaurant, a movie rental store and a tanning facility.
McEntire said several factors led to selection of the location.
“It has Interstate 85 visibility, frontage on Chantilly, which is also Alabama 110, and a U.S. 80 interchange is planned to hook that highway to EastChase Parkway,” he said.
“The factors that make it most attractive are access, visibility and a high, high growth rate. Probably between 1990 and 2000, that area grew by more than 50 percent,” he said.
McEntire said Helms Roark, the company that developed Country Club Center and leases and manages Plaza East, is developing the new project, including three outparcels.
Gloria Lasseter, spokeswoman for Bruno’s in Birmingham, said company officials are not ready to release details on the new store.
McEntire said he could not estimate total employment at Chantilly Corners. The capital investment is “millions,” he said

City gets Orlando baseball team

admin — Mon, 25 Aug 2003 20:06:27 +0000

The Class AA minor league baseball team from Orlando will make its Montgomery debut in April 2004, the team owners announced Tuesday.
Calling it “the worst kept secret in the history of professional league baseball,” Tom Dickson, co-owner of Professional Sports Marketing LLC, said his company has a binding purchase agreement to buy the Orlando Rays, currently owned by Orlando Rays Baseball Inc., which is owned by the major league team Tampa Bay Devil Rays.
“The long wait for professional, affiliated baseball in Montgomery is rapidly coming to an end,” Dickson said.
Dickson and Sherrie Myers, his wife and business partner, made the announcement while flanked by city government officials. Three artist renderings of the stadium to be built at the corner of Coosa and Tallapoosa streets also were on display.
The Southern League team’s debut will coincide with the opening of the $26 million stadium.
The Southern League of Professional Baseball on Friday approved the relocation of the Rays from Orlando to Montgomery. Final approval of Minor League Baseball and Major League Baseball still is required, Dickson said.
The Tampa Bay Devil Rays also will be minority owners of the Montgomery franchise along with Professional Sports Marketing LLC and will help move the team to Montgomery, Dickson said.
Demolition of buildings at the stadium site and marketing the team will begin soon, Dickson said. Groundbreaking on the stadium is expected in June.
Dickson and Myers, who also own the Class A Lansing (Mich.) Lugnuts and the Charleston (W.Va.) Alley Cats, plan to involve the community in a name-the-team contest this spring.
“It is important to us all (that) the people in the community contribute ideas,” Dickson said.
Dickson said the company will announce the team’s name and reveal the uniforms, hat, logo and mascot in the summer. Season tickets will then go on sale.
“This is a project I know a lot of people have waited on for a very long time, and we promise to do everything in our power to make it a huge success,” Dickson said.
“It’s a new day in Montgomery, Alabama,” Mayor Bobby Bright said during the announcement at Union Station. “We’re making headway as far as developing and revitalizing our downtown area.”
The stadium and baseball operations has been tagged as the first major catalyst for revitalizing downtown Montgomery.
“Developing the riverfront is what I’m all about,” Bright said. “Revitalizing the downtown area is the focus of my administration as mayor.”
Bright signed a stadium lease agreement last month with Dickson and Myers. Major clauses in it are that the couple buy a team and lease the stadium for 20 years.
“There is no escape clause,” Dickson said. “We are here for 20 years.”
The stadium and land is expected to cost about $26 million, of which the Dickson-Myers duo are paying $1 million.
The 2.5 cent lodging tax increase and stadium operation revenues are expected to pay off the loan the city will take out to buy the land and build the stadium.
Dickson said he has no doubts the stadium will be ready for the 2004 season. The stadium in Lansing was built in 12 months.
“It’s not uncommon to build one of these things in a year,” Dickson said.
The Rays did not do well in Orlando he said, because of the competition from Disney World and other attractions.
“Traditionally, minor league baseball does better in a small market,” Dickson said. “My guess is minor league baseball got lost down there.”
The Montgomery Riverfront Development Foundation’s Baseball Advisor Committee, headed by publisher and president of the Montgomery Advertiser Scott Brown, recommended the Dickson-Myers duo to Mayor Bright and the City Council.
Brown said it was a 16-month process to select the Dickson-Myers team.
“They have the credentials, and they have the credibility,” Brown said. “I think they are a great fit for the City of Montgomery.”
Admission costs to the games will vary, Myers said, but they tend to be competitive with movie tickets in the same area. Tickets in Montgomery could average $7.50.
The next major project downtown is expansion of the civic center into a convention center and construction of an adjoining hotel

Hyundai supplier starts venture

admin — Mon, 25 Aug 2003 15:07:05 +0000

VENTURE ALABAMA
Headquarters: Fraser, Mich.
Size: 60 plant locations in 13 countries
Annual sales: $2.5 billion
Employees: 13,000 worldwide
Prattville details: 670,000-square-foot plant will employ about 600 people. Expected to begin operations in September 2004
PRATTVILLE — Venture Alabama held its groundbreaking ceremony in Prattville Tuesday afternoon, the first step in construction of a 670,000-square-foot, $100 million automotive parts plant.
The project is set to begin in July. The plant, which will create 600 jobs, is scheduled to open in September 2004.
Venture makes plastics that are used in instrument panel clusters, bumper assemblies, interior and exterior trim and body panels. The plant is the largest tier-one supplier to Hyundai Motors Inc. to land in the state. Hyundai is building a $1 billion manufacturing plant in Montgomery.
“It only seems like it was a few months ago since we were down in Montgomery making the announcement Venture had picked Prattville,” Gov. Bob Riley said. “Venture means so much, 600 jobs, 600 people earning good wages. This is a classic example of what happens when local and state government work together to create one vision to move the state and its communities forward.”
The average salary at Venture will be $14.52 an hour, which translates into an annual payroll of more than $18 million.
“I can remember Prattville in the 1950s,” said Rep. Mac Gipson, R-Prattville. “You had three choices; you worked at the gin shop, you worked at the cotton mill or you left. Now my grandchildren have a much brighter future ahead of them. Our industrial base has expanded so much, we have a brighter future now.”
Prattville’s newest industry will benefit the entire region, said Mayor Jim Byard.
“We have several of our friends from Elmore County at this celebration,” Byard told the crowd of about 300, just before the obligatory shovels of dirt were turned over. “Venture is going to change Prattville, of course. But a company of Venture’s standards and reputation is going to change the entire region. When we were recruiting them, they told us they wanted to pick a community where they could make an impact right away. They wanted to become a member of the community quickly. It’s rare to find that attitude in business.”
Venture, based in Fraser, Mich., employs about 13,000 worldwide and has manufacturing plants on seven continents. It is solely owned by Larry Winget, who began the company out of his garage in 1974. It has grown to a company with annual sales of about $2.5 billion.
Winget says he knows he made the right choice by settling in Prattville.
“The media has asked me several times why we picked Prattville. I tell them it’s the level of cooperation we found here, and the fact we were welcomed with open arms,” he said. “It feels good, and I feel blessed to establish a new company in this community. It surprises me how you blend God, the community and business together. It’s really very refreshing, and quite different than in Michigan.”

Marty Roney can be reached at (334) 365-6739 or by fax at (334) 365-1400.

Montgomery on the Move

admin — Tue, 05 Aug 2003 20:08:09 +0000

Montgomery on the Move
One of the Deep South’s most embattled cities now offers opportunity and diversity.

by Nicole Gull

Setting SitesIsaiah Sankey was born December 1, 1955, in Montgomery, Ala. — the same day fellow African American Rosa Parks was arrested for not giving her seat to a white person on a city bus. “They call me the civil rights baby,” Sankey says. “That’s important to me.” Thirty-seven years later, Sankey and his wife, Johnnie, broke ground for New Visions Nursing Service, a 16-bed assisted-living facility within the city’s small-business incubator zone. Sankey believes race relations in Montgomery have greatly improved during his lifetime, as a bustling economy has moved the city’s most compelling news from the front page to the business page. According to Sonya Buckner, director of the small-business incubator, new business registrations have increased 10% annually during the last decade.
Thanks in part to the Hyundai Motor Company’s recent arrival, Alabama’s capital city is ripe for related business growth. The automaker’s $1 billion manufacturing plant, set to open in 2005, will bring 2,000 new jobs. “This area has a good work force with good, qualified candidates,” says Greg Kimble, a Hyundai representative. “Alabama is really growing when it comes to the auto industry.” (Mercedes-Benz, Toyota, and Honda all have a presence here.) Other Montgomery notables include Brown Trucking, which in 2001 made a $5 million, 70-job investment, and Norshield Security Products, which added $3 million and 50 jobs to its plant in 2002.
Chicago native Michael Traff decided to stay in Montgomery after finishing his service at local Maxwell Air Force Base, and in l996 founded T-Tek Material Handling Inc., which sorts products for shipping. Although he located his business in an area of town not serviced by Montgomery’s sewers, the city paid to link his building to the system. The former four-person operation now has 50 employees and, according to Traff, $4.7 million in annual revenue.

City Living
Montgomery residents enjoy low state and local property taxes — though that savings translates into what some locals call an underfunded public school system. Charter schools and a handful of college-preparatory and private institutions help pick up the slack.
From January to June 2001 to the same six-month period in 2002, crime in Montgomery increased 23.3%, mostly because of larceny theft and burglary. But the city’s crime rate still compares favorably against other Southern cities of its size, notably Birmingham and Raleigh, N.C., according to recent FBI statistics.

Leisure Time
The Montgomery Museum of Fine Arts, the Rosa Parks Library and Museum, and a Shakespeare festival help while away hot summer days — when temperatures can hit the muggy 90s. As part of a city waterfront-development plan, a 500-seat amphitheater, river walk, and baseball stadium will open in April 2004.
But the real sport here is college football. Residents live and die for the Auburn University/University of Alabama football rivalry. Traff, the former Chicagoan, jokes: “Down here they don’t know what pro football looks like. When you walk into the state, they want to know who you’re for — Alabama or Auburn.”

Founded: 1819
Population: 201,568
Cost of living: 97.6% of national average
Corporate income tax: 5% of in-state net annual income
Corporate property tax: $3.45 per $100 assessed value
Commercial property sales: $10,000-35,000 per acre for developed property
Commercial rentals: $13.25 per square foot (industrial), $18-22 per square foot (office)
Notable business incentives: A small-business incubator, two industrial grant programs, an enterprise-zone development program (which grants an employer $2,500 per new permanent hire and exemption from sales and use taxes), a 10-year tax-abatement program, an industrial-development bond, and a corporate income-tax capital credit program
State personal income tax: 2-5%
Retail sales tax: 10%
Typical price for a 4-bedroom home: $200,000 (new); $125,000 (existing)
Religious life: About 150 churches, five synagogues, one mosque
Weather: Low risk for hurricanes or tornadoes. Average winter/summer temperatures: 49.2/83.6 degrees.

Merchants, police see more cars downtown

admin — Tue, 08 Jul 2003 20:09:26 +0000

Is it the imagination or has the traffic volume in Montgomery’s downtown increased in the past couple of years?
While exact numerical comparisons of downtown traffic growth or decline do not exist, longtime business owners, managers, police and the city’s certified planners say traffic in the central business district seems to have picked up in the past several years.
“Things are better than they used to be,” Chris’ Hot Dog restaurant owner Theo Katechis said. “I’m sure the RSA tower helped bring a lot more people down here. There’s more activity along the river, the train shed.”
Frequent downtown visitors and city officials say the renewed interest in downtown development and tourism are major reasons for the rise.
But quantifying the multiplication of motorists is far from scientific. The city hasn’t conducted a traffic volume study of Montgomery’s downtown, Traffic Engineer Locke “Bubba” Bowden said.
However, Certified Planner Steven Harrison of the Montgomery City Planning Department said traffic volumes in some parts of downtown Montgomery have come close to or exceeded those recorded by the Alabama Department of Transportation in 1959 for a study released the following year.
Traffic volumes were high during that bygone era because the downtown area was the retail and entertainment center of Montgomery, said Harrison, a 15-year city employee.
But in the four decades following those benchmark, bumper-to-bumper years, city growth shifted to the east. Retail, restaurant and entertainment business all but abandoned the city’s core.
In the past few years, though, the chrome and rubber parade has escalated downtown, according to studies by the Transportation Department conducted in 1999 and 2001.
Madison Avenue, the busiest downtown street, had a daily average of 22,100 vehicles near the intersection of Hull Street in June 1959. The average daily count in 1999 was 22,524. The count on Madison near Ripley Street was even higher, at 24,440, according to Alabama Department of Transportation reports. But other streets continue to show lower traffic counts than in 1959. Jefferson Avenue showed 8,600 in June 1959. The busiest location on Jefferson Avenue in 1999 averaged 6,071 per day.
The most recent traffic count figures available also do not show the effect of renewed downtown revitalization efforts, which did not begin in earnest until early 2002.
Some say the revitalization effort, which has become a major focus of Mayor Bobby Bright’s city administration, should be credited for bringing more traffic into the downtown area.
“You are seeing more traffic because of all of the interest in downtown revitalization efforts,” said Hobson Cox, owner of Affordable Eyewear at 324 Madison Ave.
He said the traffic increase also has caused an increase in auto accidents.
“People go 60 miles an hour,” he said. “If a policeman could sit behind the bushes (and clock speeders) they would make a fortune.”
Montgomery Traffic Police Sgt. Richard Soder said he has noticed an increase over the past few years.
“Anytime you start doing new construction, it will increase interest,” Soder said.
He has noticed more traffic because so many people are interested in development along the river.
“Curiosity is bringing them downtown,” Soder said.
“Wait until they open the new civic center and downtown hotel,” he said.
Although downtown traffic volumes are rising, planners are not worried about congestion.
Harrison said Montgomery’s downtown was designed for heavy traffic decades ago because it was the hub of activity. The city plans to adjust and coordinate signal lights to keep traffic from backing up at intersections.
Technological advances also will help keep the lines of vehicles flowing smoothly.
An “Intelligent Transportation System” that will use sensors, cameras and remote controls will someday automatically set traffic lights to keep vehicles moving smoothly.
The system eventually will become part of the Intermodal Transit Center planned for construction within the next two years near Union Station, Harrison said.
“I don’t see a problem in the near future,” he said.