HUNTSVILLE – Help Wanted: Major research university seeks a master developer for a ground-breaking real estate project. The development is intended to transform a former office complex into a college-town experience. Click here.
To say the University of Alabama in Huntsville is embarking on an extensive real estate project on University Drive, is putting it mildly.
The university is planning to transform the former Executive Plaza site on University Drive into a vibrant multi-use district, establishing a signature college-town experience to drive enhanced satisfaction, recruitment, and retention of students, faculty and staff.
UAH is seeking a master developer to collaborate with Rieth Jones Advisors, a specialized advisory firm that serves higher education institutions, on the development. The project aims to deepen ties to the Huntsville community, bolster research standings, and fortify UAH’s leading position as the premier higher education and academic research provider in Huntsville and the Southeast.
“The Executive Plaza property presents UAH with a unique opportunity to provide more amenities for our students, faculty and staff. Huntsville is growing and our university must adapt to the needs of future students,” said UAH President Charles L. Karr. “We have partnered with Rieth Jones Advisors and PFM Financial Advisors to guide us through this exciting process. We are looking forward to adding another teammate to our group.”
The 58-acre mixed-use development will include student housing, a UAH-anchored research building, collaborative build-to-suit commercial office space, and retail/entertainment options. The estimated total project cost for the first phase is $216 million.
The university is accepting requests for qualifications submissions from interested firms through mid-August and anticipates making a selection this fall.
This is the second major development as the university seeks to modernize its campus for future students. The Raymond B. Jones Engineering Building will begin construction late this year.
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