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HUNTSVILLE, AL-The Santa Monica, CA-based O&S Holdings LLC has hit the 50% preleasing and presale benchmark to signal the start of vertical construction for the $200-million Bridge Street Town Centre. The developer has aligned four general contractors to complete the two-million-sf, mixed-use development in the heart of Cummings Research Park.

O&S Holdings started priming the plan last summer for the 101-acre development at the junction of Interstate 565 and Alabama 72. Patterned after classical architecture in Tuscany, Italy and Provence, France, the mix of retail, hospitality, office and high-density residential space is scheduled to start delivering in June 2007.

“There continues to be a tremendous amount of interest from retailers,” Gary Safady, managing member for O&S Holdings, says in a press release. “I anticipate that the property will open nearly 100% leased.”

To date, leases have been signed by P.F. Chang’s China Bistro, Coldwater Creek, DSW, and Elizabeth Arden Red Door Spa. Further commitments have been obtained from Barnes & Noble, Anthropologie, Ann Taylor Loft, Chico’s, White House/Black Market, Soma, J. Jill, Brighton Collectibles, Sullivan’s Steakhouse, Connor’s Seafood and Bravo Cucina.

Meanwhile, a contact for the developer tells GlobeSt.com that the ideal tenants for Bridge Street Town Centre are upscale retailers who might be new to the Huntsville market. “We’d like to see retailers who unique to Huntsville and even to Alabama,” she says, adding leasing is being handled in-house.

Bridge Street Town Centre’s residential component, the Westin Huntsville Residences is more than 50% sold out, with 44 of 74 units reserved. Move-ins are planned to start in November 2007. The units, ranging from 750 sf to 4,300 sf, are going for $250,000 to $1.7 million. Scott Averbuch with Averbuch Realty Co. Inc. in Huntsville has been marketing the residential component.

O&S says the preleasing and presales mean it’s time to forge ahead on completing the project, designed by TSA Architects of Los Angeles. Atlanta-based Winter Construction Co. will build the 210-room Westin Huntsville and its 74 residential units plus the northern half of a 550,000-sf lifestyle retail center. Brasfield & Gorrie LLC of Nashville will develop a 2,580-space parking garage and the balance of the retail component. VCC Construction Co. from Little Rock will bring on line a 73,300-sf theater, 150,000-sf office building and 95,000-sf big-box retail. The landscape architect is ValleyCrest Landscape Development from Calabasas, CA. The retail, theater and office space will be ready to fill in summer 2007 and the hotel will open in the following fall.

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