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Wednesday, February 6, 2008

Ovation dies, Constellation lives

Ovation is now officially dead as of 5pm yesterday (Feb. 5). That was the deadline for Triad Properties to find an adequate restaurant tenant for the Summit office building, or they would lose the lease option for a proposed condo building adjacent to it. There are no plans to extend the option.

However, also yesterday during an emergency Planning Commission meeting, the Constellation mixed-use development was saved from possible doom. Developer Scott McLain said that one of the hotels proposed for the project was in jeopardy if action wasn't taken on approving the project. The two hotels, a Courtyard by Marriott and a Spring Hill Suites, will be the first part of the project to begin construction, which could be later this month or next. Constellation also includes retail/restaurant space, office space, and 80-100 condos priced at $200,000-300,000, a bargain compared to other downtown condo projects and the now-dead Ovation, where condos would have gone for more than $400,000.

Huntsville Times article: One project is dead, second ok'd

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