MADISON, Ala. (WHNT) - A major announcement out of Madison today that could change the landscape of the city for years to come. A large parcel of land will be developed for decades to come. Officials from the city all the way up to the governor got together to turn over some dirt on what they are calling a 'cooperative district.'
"We're going to break ground today on 700 acres and we're going to be developing this for the next 20-25 years," said Mayor Troy Trulock.
City, county, and state officials are breaking ground for Town Madison, a multi-use area expected to make a huge economic splash.
"$400 million, hundreds of jobs will be created here," said Alabama governor Robert Bentley. These jobs that are created here are as important as the jobs we create from any manufacturer that we get in the state of Alabama."
"This is going to build schools and roads and infrastructure, and the wishlist that the city would like the have and the county would like to have," said Louis Breland of Breland Companies.The hundreds of acres stretching from Wall Triana Boulevard to Zierdt Road will be transformed into homes, offices, retail, and walkable areas.
"We will have some top retailers in the nation. most of those are not in this market today," said Breland.
"We have businesses lining up, signing up for this, they realize this is prime property right along i-565," said Mayor Trulock. Private developers are investing the millions to begin the project that has been in the works for more than five years.
"It will rival any live-work-and play in the southeast," said Breland, who believes that Town Madison will turn into a destination location that will draw people from hundreds of miles away. Officials estimate that the Town Madison project will produce close to $2 million in new sales tax dollars that will be split between the county's three school districts.
Officials want retailers to begin moving in as new roads are built over the next two years.