Monday, December 17, 2007
More than 400 acres between interstate exits
Nearly 400 acres of property near Interstate 85 in Opelika has been purchased and is slated for development.
February 28, 2007
Nearly 400 acres of property near Interstate 85 in Opelika has been purchased and is slated for development.
Silver Companies - a diversified real estate investment and development firm co-headquartered in Metro Washington, D.C. and Boca Raton, Fla. - invested in Opelika with its sizable purchase of more than 400 acres between Exit 64 and 66.
Each acre reportedly cost the company $25,000, and city officials say Silver wants more.
With this prime piece of Opelika real estate under its already bulging development belt, Silver has the potential to do what it did in Virginia with its “Celebrate Virginia” project.
“Located in the City of Fredericksburg and Stafford County, Va., Celebrate Virginia spans 2,400 acres along Interstate 95 between Washington, D.C. and Richmond, Va. Located at exits 130B and 133B off I-95, ‘North America’s Largest Retail Resort’ is home to a wealth of historic attractions and modern activities alike, while keeping pace with a world-class business address,” according to Silver Companies’ Web site, http://www.silvercompanies.com.
Already Silver has developed more than 11 million square feet of retail space.
Opelika Economic Development Director Al Cook said the city’s horizon is bright right now and that residents need to go ahead and pull out their sunglasses.
“We see tremendous potential for that side of the interstate between Exit 64 and 66,” said Cook in a measured tone without giving too much away.
The acreage the company recently purchased is less than 6 miles from TigerTown and what will soon be a Holiday Inn Express, which mirrors the Celebrate Virginia project which is anchored by Fredericksburg Expo and Hilton Garden Inn.
Ever since Newton Oldacre McDonald broke ground on TigerTown in 2003, investors have been making the commitment to the retail development.
Come June, Kroger is expected to open doors in TigerTown near World Market.
Silver Companies officials could not be reached for comment Tuesday. For more information about the company, visit its Web site at http://www.silvercompanies.com.