MOBILE, Ala. (WKRG) — There’s a lot of interest in a project announced for downtown Mobile on Thursday. Some preliminary work has already begun on the $30million project on Merchants Plaza.
The project will see the transformation of an entire downtown city block, centered around the aging Merchants Bank Building, that was built in 1941. The project will develop new retail, restaurant, office, and living space downtown; 225,000 square feet of it, in fact.
The developers, John Glassell and Will Yandell with Heritage Land and Development, credit the Alabama Historic Tax Credit for being able to undertake the project.
While the retail and office space is exciting enough to city officials, Mayor Sandy Stimpson says he’s also looking forward to the more than 80 upscale loft apartments that will be built in the Merchants Bank Tower. He says in order to truly transform downtown Mobile, more people need to live there.
The developers say the bulk of the reconstruction will begin after the first of the year. They estimate the entire project to take 18 to 24 months.