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Construction Begins on $114 Million Mixed-Use Developments in Gaines Street District

By: North American Properties Release Email
By: North American Properties Release Email

Press Release: North American Properties

TALLAHASSEE, Fla. – Today, two nationally-recognized development companies, North American Properties and Uptown Rental Properties are celebrating the ground breaking of three mixed-use developments that will call Tallahassee’s newest entertainment district home.
The companies hosted a ceremony to thank local partners, and share the exciting details surrounding the new developments. The ceremony featured remarks from Kim Williams, Past Chair of the Economic Development Council of Tallahassee/Leon County; Shawn McIntyre, Partner, North American Properties; Dan Schimberg, President, Uptown Rental Properties; as well as the 2012 and 2013 Chairs of Tallahassee’s Community Redevelopment Agency –Commissioner Nick Maddox and Mayor John Marks.

“The Tallahassee community is reinventing itself,” said Schimberg. “We saw an opportunity to be part of this unparalleled urban redevelopment initiative taking place within The Gaines Street District, and knew we had to bring our best development plans to the table.”
The two Cincinnati-based developers saw great opportunity within the Tallahassee market. They brought their industry leading expertise, teams and talent, and partnered with local contractors, city and county organizations, and real estate experts to make their plans a reality. The Community Redevelopment Agency, Economic Development Council, Broad & Cassel, Genesis Group, M + A Architects, Real Estate InSync, and Winter Park Construction have played a role in making the developments a reality.

“The bottom line is that we are here investing our resources because Tallahassee elected officials and community leaders took the first step,” said McIntyre. “We are grateful for these leaders and proud to be a part of the efforts to revitalize the Gaines Street District.”

The partnership of these two development companies and efforts among all local partners are a true testament to Tallahassee’s economic climate. The redevelopment taking place in The District positively impacts the economic climate of the Tallahassee community both during construction and beyond. The economic impact of the three projects exceeds $114 million in goods and services and 854 jobs during construction. Upon completion, there will be a permanent impact of $17 million and 157 permanent jobs will be created.

The south corner of Gaines Street and Gay Street will be the future home of The Deck, just to the west of this space will be the future home of The Block, and around the corner, at Woodward and St. Augustine, the FSU Student Credit Union and Hillel will find a new home. Each of the buildings will offer a mix of retail and residential spaces, appealing to the students who want to be in the entertainment district, but not directly above it. The student leasing options will include state of the art high speed technology, accommodations and amenities including a social deck and study lab complete with Mac computers.

The Gaines Street District aims to bring a new heart and soul to downtown Tallahassee, serving as a pedestrian friendly core that seamlessly transitions neighborhoods with retailers and the existing university campuses. As part of an initiative spearheaded by the Seminole Boosters and Will Butler with Real Estate InSync, this redeveloped area within the Gaines Street District will create a true sense of place for Florida State University alumni, current students and nearby residents by improving the university experience for all students as well as the overall desirability of these neighborhoods as places to live, work and visit.
“These developments are the perfect examples of the momentum building within the District,” said Will Butler, President, Real Estate InSync. “It is offerings like these that will allow this new pedestrian friendly, entertainment district to rival any other college town around.”

The three new mixed-use projects will be completed by May 2014. Interested tenants and retailers can learn more by contacting Craig Kopko, Director of Leasing, craig.kopko@naproperties.com.


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