Plans for GE property in Decatur: Retail/office/hotel

Newly formed development group Chase Financial Group of Alabama is close to closing on a 42-acre tract of land that General Electric now owns in Decatur near Point Mallard Park, according to the Decatur Daily. This comes after the city of Decatur had its bid offer for the land rejected last week. The city planned to use the property for residential and recreational purposes. However, Chase Financial plans to build a retail center, office space, and (eventually) a hotel on the property. The group plans to break ground later this year. The same company is developing two other properties in the Decatur area: a condo development off of Alabama 20, and an expansion of the Celebration Arena in Priceville.