Developers of two large tracts of land in Alabama have high hopes for the future of their respective properties.
In Tuskegee, construction is scheduled to begin this summer on the first building in a logistics park along Interstate 85 in Macon County. If fully completed, the park will offer a combined 5 million square feet of space.
And up in Etowah County, local officials have cemented an agreement that they will say will make a 1,100-acre site adjacent to Interstate 59 more attractive to a large scale development.
The Tuskegee project, called the Regional East Alabama Logistics (REAL) Park, involves a partnership between the Macon County Economic Development Authority, Farpoint Development and two local businessmen, Jimmy and Wayne Bassett.
The park will be situated on 683 acres off Exit 42 on I-85, smack dab along a corridor seeing economic development from Montgomery to Auburn, Opelika and as far east as the Kia plant just over the state line in West Point, Ga.
“The right team, the right project in the right place and at the right time — this initial investment has the potential to be a tipping point in our community’s development for decades to come,” MCEDA Director Joe Turnham said.
The project, developed by Farpoint, envisions around 13 buildings using the design-build, leaseback method. It would take seven to 10 years to complete the whole plan.
Construction is expected to begin this summer on a 169,000-square-foot expandable industrial commercial structure. Upon its completion, it will be the only “Class A” warehouse/manufacturing building available for lease within a 40-mile radius. North Carolina-based Farpoint is marketing the building as an industrial facility for lease.
An economic impact analysis conducted by the University of Alabama’s Center of Business & Economic Research projects the park will bring $386 million in new economic capital investment when fully built, and add more than 1,000 direct jobs and nearly 900 indirect jobs.
The Little Canoe Creek mega site off Interstate 59 in Etowah County has been trying to attract a large-scale industrial project with its 1,100 acres. (Etowah County)
Etowah County’s Little Canoe Creek mega site has been an ongoing project of local leaders for more than a decade, offering a large tract of available land for industry. Officials have gone to work over the last few years making infrastructure improvements to inch it closer to development. In 2018, Gov. Kay Ivey made an appearance at the site to draw attention.
This morning, the Etowah County Commission approved a memorandum of understanding with Rainbow City, a city of about 10,000 residents, which agreed to install water and sewer to the site. The site already has rail, electric and fiber optic access.
Currently, there are three other improvement projects ongoing on the land, according to Shane Ellison, chief administrative officer with the Etowah County Commission. Waites Construction is finishing the construction of a 70-acre pad, which will eventually expand to 100 acres, with a new road to Wesson Lake Road providing secondary access.
All three projects have a combined price tag of $5.7 million, and are being funded by Norfolk Southern Railroad through an economic development grant program. Alabama Power is also building a new power substation and relocating transmission lines at the site, while Goodwyn, Mills and Cawood is drawing up plans to install water and sewer lines.
Under this agreement, the site, which is located in unincorporated Etowah County, would eventually be annexed into Rainbow City’s corporate limits, providing police and fire protection. The county would also receive reimbursement for its investment in the mega site, contingent on its sale to any new industry. Presently, the county owns all the property.
Commission Chairman Johnny Grant said the agreement was another step forward for the property.
“We’ve known for a long time that Etowah County needed a partner that could provide infrastructure and basic services so we could move to the next phase of development,” Grant said.
Rainbow City Mayor Joe Taylor said the agreement will allow the site “to be the economic development engine that will drive Etowah County forward.”