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Tuesday, March 23, 2010

Redstone Gateway: Office Developer Announced

Corporate Office Properties Trust, a Maryland-based office developer that specializes in government-centric office projects, has been revealed as a partner in Jim Wilson and Associates' Redstone Gateway project, according to their website. A news conference will be held tomorrow morning to unveil the partnership and other details about the project.

COPT's role in the project will be to develop up to 4.4 million square feet of office space (over 4.5 times the size of Madison Square), 1.2 million of which will be "secure." The office space will be built in three phases, with three-to-six story buildings (so very Huntsville...) containing 80-165,000 square feet of space each.

Redstone Gateway will be built on Enhanced-Use Lease land on the Southwest corner of the 565/Research Park interchange, just north of Redstone Arsenal Gate 9. The first phase of the 468 acre project will include retail space and a hotel. You can read more about the project in a post I wrote almost two years ago.

Updated: COPT Presentation on Redstone Gateway

1 comment:

davelant said...

Huntsville has a AAA bond rating. At a time when 20 year AAA bonds are going for around a 5% coupon rate, why is Huntsville planning to pay the developer 10% on a $76 million bond?