RCP Companies has unveiled a logo for the new MidCity Huntsville project at Madison Square Mall on University Drive.
As AL.com previously reported, the real estate firm is working with The Grove Huntsville to redevelop the former “Super Mall” into a mixed-use project with retail, restaurants, entertainment, office/residential space, a hotel and recreational park.
Lindsay Harper, spokeswoman for the boutique real estate firm, expects a formal announcement about MidCity this month. The company has not revealed any additional details about the project.
Former owner CBL & Associates sold its portion of the mall to The Grove in April for $5 million cash. The struggling shopping center continues to lose foot traffic as businesses shut down or move elsewhere.
Located at the corner of University Drive (U.S. 72) and Research Park Boulevard, Madison Square has been open since August 1984. The nearly 1 million-square-foot property lost one of its anchor tenants, Belk, when it opened a second flagship store last year at Bridge Street Town Centre.
RCP is behind several other high-profile projects in Huntsville, including the Whole Foods-anchored Shops at Merchants Walk and CityCentre at Big Spring. CityCentre will feature 50,000 square feet of retail and restaurant space, more than 270 apartment homes, two parking garages, office lofts, as well as two hotels with more than 230 rooms.
Alabama-based Yedla Hotel Management, which owns and operates Starwood, Marriott and Hilton franchises, will run the hotels. The first phase of the project should launch next year.