The Birmingham REIT estimates it will take about 10 years tobuild out the entire undertaking. Under construction and expectedto surface by June 2001 are the first of several office buildings,a five-story, 155,000-sf structure, and the first of 456 apartmentunits.
On the drawing boards are plans for 1.1 million sf of office;225,000 sf of retail; and 420 hotel rooms. The site is on thenorthwest corner of Interstate 4 and County Road 46A in SeminoleCounty.
A six-month-old interchange at County Road 46A is triggeringintense development interest in the area. For example, anotherREIT, Highwoods Properties Inc. of Raleigh, plans to break groundby yearend on 240,000 sf of office product.
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