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HUNTSVILLE, Ala. — The site of downtown Huntsville’s former Coca-Cola bottling company is getting a huge makeover.

Rocket Development Partners, the company recently closed on the site, will transform the space located on Clinton Avenue into 11 acres of residential, retail, restaurant and office space.

The first phase of the project will be two buildings with an estimated 40,000 square feet of retail space, 500 upscale apartments and up to 50,000 square feet of Class-A office space. Located across from the Von Braun Center, the buildings will surround a greenspace envisioned to become “downtown’s social epicenter.”

“A milestone like this brings us one step closer to building a community-focused development for this historic Huntsville property,” said Mitch Rutter, principal of Rocket Development Partners.

“The city’s momentum and growth, as evidenced by the latest U.S. Census results, has created an exciting and undeniable energy that we look forward to enhancing,” Rutter added. “We feel confident our development will contribute to Huntsville’s impressive growth and provide entertainment activations that draw more people to experience downtown.”

The Huntsville City Council approved the project in June 2021.

The estimated cost of the investment is $325 million with the city contributing $18 million, but not until the development has started or completed its commitments. Huntsville Director of Urban & Economic Development Shane Davis said the City’s return on investment would be over $25 million over a 10-year period.

According to a news release from the City of Huntsville, Rocket Development Partners would be responsible for all construction, as well as donations to the City for right-of-way, easements, public mews, and 400 spaces in the 800-space garage as well as its maintenance.

The City would be required to build a new road to connect Clinton and Holmes avenues and construct public mews.

Rocket Development Partners says they plan to break ground on the new development next year.