HUNTSVILLE – Addressing the area’s need for more tech and corporate workforce housing, RCP Companies has announced a $110 million urban mixed-use development for Huntsville’s MidCity District.
Anthem House will mark the latest installment in RCP’s live-work-play-and-stay project. Over the next five years, private investment in MidCity is expected to exceed $1.5 billion, RCP said.
Anthem House will feature collaborative working, living and social offerings targeted to the growing young workforce in North Alabama. With 330 apartment units, 35,000 square feet of creative office space and 32,000 square feet of street-level retail, Anthem House is designed to provide Huntsville’s expanding workforce with a residential-meets-hospitality solution.
It will offer furnished units, shorter lease contracts, and vibrant, hotel-like surroundings and amenities.
“Currently, Huntsville has a housing deficit that is accentuated by the continued job growth in the market,” said RCP co-founder Max Grelier. “The shift in consumer preferences, particularly among millennials, is driving demand for more hospitality features within real estate projects, including more amenities, hosting events and activities which bring residents together.
“Anthem House’s unique multifamily hospitality product, embedded in the MidCity District, is well-positioned to fill this gap.”
Named as a nod to MidCity’s music theme, Anthem House is steps from live music, dining, shopping, entertainment and community events.
“Anthem House is a lifestyle opportunity blending residential and hospitality for an innovative hybrid product appealing to Huntsville’s growing young workforce,” Grelier said. “It’s boutique, social and has an open door to MidCity.
“The loft warehouse aesthetic feels refined, seamless and stylish, all while being in the center of the action.”
In a study of 43 U.S. markets undertaken by RCLCO Real Estate Advisors, Huntsville’s workforce demographic resembles cities such as Denver, Austin and San Francisco. In that, they offer an equally high concentration of corporate housing to sustain their workforce.
The industrial-modern styled units meet the demands of the remote and contract workforce in a social location.
“The layers throughout MidCity are designed to bring people together in unexpected ways through their normal, day-to-day behaviors, and Anthem House attracts a new, previously overlooked audience of the tech and corporate workforce and fresh energy,” said Nadia Niakossary, RCP’s senior director of development. “We actively search for gaps in the market and seek to fill them through our developments and tenants, pushing the envelope for Huntsville to attract the next generation of residents.”
RCP plans a groundbreaking this fall with project completion expected by early 2025.