Deuce
Well-Known Member
Last dome parcel in place
BJCC approves $1.72 million purchase of United Cerebral Palsy building, land
01/22/04
ROY L. WILLIAMS
News staff writer
The Birmingham-Jefferson Convention Complex board on Wednesday approved buying the last piece of property needed to build a $498 million sports and convention dome.
The board approved purchasing the United Cerebral Palsy building on 11th Avenue North between 24th Street and 25th Street and 91,375 square feet of land it owns for $1.72 million.
With the purchase, the BJCC now owns or has under contract all of the 40 pieces of property in the four-block area between 23rd and 24th Streets and 11th and 12th Avenues North targeted for the expansion project, said BJCC Real Estate Director Jack Fields.
The BJCC has spent $14.44 million over the past two years buying land needed for the expansion. Another $8.1 million is under contract and expected to close by March 1. Fields said all of the landowners they've dealt with have owned the land for at least five years, most of them private families who have had it in their possession for at least 15 years.
Fields said the United Cerebral Palsy property is crucial because it would be the main staging area for construction crews.
The BJCC, which would need $35.3 million annually for 30 years to pay off bonds used to finance the expansion, has lined up about $26 million a year in contributions from Birmingham and Jefferson County plus revenue from car rental and lodging taxes passed for the project. The board has asked the state to contribute up to $5 million annually and is seeking another $5 million per year from Birmingham, but has gotten no firm commitments.
Update scheduled:
Next Tuesday, the BJCC is to host Jefferson County legislators at the Summit Club to update them about the expansion plans. The following week, BJCC officials plan to meet with Gov. Bob Riley, who has expressed support for the expansion without guaranteeing any funding.
Expansion committee chairman Lewis King said the dome should qualify for state economic development funding available under the Amendment One proposal Alabama voters approved two years ago.
"The state gave Mobile $10 million of that money (for a new office building) a couple of weeks ago and recently gave UAB $3 million for one of their development projects," King said.
Also Wednesday, the BJCC approved a $166,000 contract for development partners HOK architects of St. Louis, Brasfield & Gorrie of Birmingham and H.J. Russell of Atlanta to proceed with plans to assess parking needs, road improvements and impact the expansion will have on transportation downtown.
HB Brantley, construction manager for the BJCC, said the developers will also look at mass transit needs, including the possibility of light rail and the expansion's impact on upcoming events at the complex.
Breaking ground:
BJCC Board chairman Clyde Echols has said breaking ground in 2004 is crucial because bond interest rates are expected to rise soon as the U.S. economy continues to improve. Rising rates will boost construction costs. Poe has said it will take up to 36 months to build a dome, so a groundbreaking next year would mean a 2007 opening date.
The project would include a 150,000-square-foot stadium for conventions, sporting and entertainment events. The BJCC recently hired Bayer Properties to oversee development of an entertainment district of restaurants, shops and a 500-room hotel adjacent to the dome.
The BJCC says the expansion is designed to allow it to meet needs for more conventions, sports and entertainment events.
BJCC approves $1.72 million purchase of United Cerebral Palsy building, land
01/22/04
ROY L. WILLIAMS
News staff writer
The Birmingham-Jefferson Convention Complex board on Wednesday approved buying the last piece of property needed to build a $498 million sports and convention dome.
The board approved purchasing the United Cerebral Palsy building on 11th Avenue North between 24th Street and 25th Street and 91,375 square feet of land it owns for $1.72 million.
With the purchase, the BJCC now owns or has under contract all of the 40 pieces of property in the four-block area between 23rd and 24th Streets and 11th and 12th Avenues North targeted for the expansion project, said BJCC Real Estate Director Jack Fields.
The BJCC has spent $14.44 million over the past two years buying land needed for the expansion. Another $8.1 million is under contract and expected to close by March 1. Fields said all of the landowners they've dealt with have owned the land for at least five years, most of them private families who have had it in their possession for at least 15 years.
Fields said the United Cerebral Palsy property is crucial because it would be the main staging area for construction crews.
The BJCC, which would need $35.3 million annually for 30 years to pay off bonds used to finance the expansion, has lined up about $26 million a year in contributions from Birmingham and Jefferson County plus revenue from car rental and lodging taxes passed for the project. The board has asked the state to contribute up to $5 million annually and is seeking another $5 million per year from Birmingham, but has gotten no firm commitments.
Update scheduled:
Next Tuesday, the BJCC is to host Jefferson County legislators at the Summit Club to update them about the expansion plans. The following week, BJCC officials plan to meet with Gov. Bob Riley, who has expressed support for the expansion without guaranteeing any funding.
Expansion committee chairman Lewis King said the dome should qualify for state economic development funding available under the Amendment One proposal Alabama voters approved two years ago.
"The state gave Mobile $10 million of that money (for a new office building) a couple of weeks ago and recently gave UAB $3 million for one of their development projects," King said.
Also Wednesday, the BJCC approved a $166,000 contract for development partners HOK architects of St. Louis, Brasfield & Gorrie of Birmingham and H.J. Russell of Atlanta to proceed with plans to assess parking needs, road improvements and impact the expansion will have on transportation downtown.
HB Brantley, construction manager for the BJCC, said the developers will also look at mass transit needs, including the possibility of light rail and the expansion's impact on upcoming events at the complex.
Breaking ground:
BJCC Board chairman Clyde Echols has said breaking ground in 2004 is crucial because bond interest rates are expected to rise soon as the U.S. economy continues to improve. Rising rates will boost construction costs. Poe has said it will take up to 36 months to build a dome, so a groundbreaking next year would mean a 2007 opening date.
The project would include a 150,000-square-foot stadium for conventions, sporting and entertainment events. The BJCC recently hired Bayer Properties to oversee development of an entertainment district of restaurants, shops and a 500-room hotel adjacent to the dome.
The BJCC says the expansion is designed to allow it to meet needs for more conventions, sports and entertainment events.