$100M Mixed-Use Development in Village of Providence Starts Construction
To paraphrase Horace Greeley: “Go west, young Huntsville!”
And the city’s westward growth continues with a $100 million mixed-use development underway in Providence.
The project, 2020 at Providence, fills a void for luxury apartment homes and additional retail and restaurants within the The Village of Providence master-planned community, according to a news release.
Led by Marc Weil and David and Todd Slyman, developers of the 305-acre Village of Providence, the project will include 360 luxury apartment homes and 20,000 square feet of ground-floor retail at the intersection of Providence Main Street and Town Center Drive. More than 70% of the ground floor retail has already been leased and tenants include Starbucks, The Cajun Steamer, Oh Crepe, and a soon to be named breakfast/lunch concept.
The apartment homes will resemble condominiums, featuring high-end finishes such as quartz countertops, wood and ceramic floors, stainless steel appliances, custom cabinets, washer/dryers and the newest wireless technology.
Building amenities include a rooftop resort-style pool, rooftop state-of-the-art fitness center, high-speed elevators with direct entry from a secure, covered parking deck and the latest in electronic package delivery.
“The broader Huntsville market is experiencing unprecedented growth from both a rent and employment standpoint,” Weil said. “2020 at Providence will provide the many professionals in the area with a luxurious rental option, literally steps from exceptional dining, retail and office.”
Huntsville, with one of the nation’s highest concentration of engineers and Ph.D. recipients, has seen its job market increase by 3.6% over the past year. The city is projected to have job growth of 40.9% over the next decade, exceeding the U.S. average of 33.5%.
“This is an exciting addition to the already vibrant master-planned community we have created,” Todd Slyman said. “We are confident the public will share our excitement and enthusiasm.”
The Village of Providence includes hundreds of single-family homes, townhomes, live/work townhomes and a Town Center with more than 800,000 square feet of office, restaurant, retail and hotels.
“2020 at Providence will “deliver an extraordinary living experience, more similar to that of Buckhead, Nashville or New York,” David Slyman said. “All within steps of new and existing award-winning restaurants, retail, entertainment and outdoor living options.”
The Slymans have more than 30 years of development experience in the Huntsville market, and Weil was involved in the development, management and disposition of the 300-unit Moderne at Providence apartment community.
The construction and design team includes Humphreys and Associates Contractors, Riverstreet Architects, Goodwyn Mills and Cawood, and Geo Solutions. Financing is provided by BancorpSouth. Spaces Management will be the management company for the project.
The team expects to complete 2020 at Providence by the end of 2022, the news release said.