Development firm Read King is “gearing up to break ground on” a mixed-use project at the southwest corner of Shepherd and West Alabama, across the street from the shopping center that houses the vacant Alabama Theater. Real Estate Bisnow‘s Catie Brubaker says preleasing has already begun for 30,000 sq. ft. of “high-end” retail; the development would also include 250 luxury apartments. The targeted opening date is in the middle of 2013, so it shouldn’t much matter that the design “is still in flux,” right? The placeholder rendering appears to show 5 stories of apartments perched above 2 retail floors.
The development would likely take over more than just the land currently used for the retail block at the corner: An entity called Shepherd Alabama LLC currently owns several adjacent properties on South Shepherd and West Alabama, according to county tax records.
- Breaking News: Read King Mixes It Up [Real Estate Bisnow]
- Previously on Swamplot: How High Will Little Bunny Fly?
Rendering and aerial view: Read King Commercial Real Estate (rendering via Real Estate Bisnow)