Ground breaking of 25 Million Dollar Development Near FSU - SLIDESHOW

By: Eyewitness News Email
By: Eyewitness News Email

Tallahassee, Florida- June 29,2012-5 pm

A vibrant urban environment for students and community members is in the making.

Today began a new beginning to the transformation of a revitalized area near Florida State University.

Developers say students in Tallahassee will be the first to experience a truly ‘walkable’, world-class community.

The 25-million dollar project is being described as a world-class community to be located on West Madison Street between West Gaines and the southern boundary of FSU. The 2.9-acre site will serve as a student-housing sector called, "Catalyst".

It will have a five-story parking structure and a 130-apartment residence building.

On the top of the building will be a deck with large-screen TVs, space to relax, and a clear view of Doak Campbell Stadium.

Said President/CEO Judd Bobilin of Chance Partners: "What we're doing is we're creating a sense of place here in addition to what's going on down the street in College Town. We believe that within a year, this whole area will be transformed, especially with what the city's continuing to do down on Gaines Street. This will be the place in the southeast."

There will also be 36-hundred square feet of retail space. Developers say about 500 jobs will be created during construction with 70 percent of contract value awarded to local companies.

Local leaders and developers held a ground breaking ceremony for the project this morning.
Catalyst will open in August 2013.
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Tallahassee, FL – June 29, 2012 - Noon -

A multi-million dollar project is underway in Tallahassee, one of several projects that will be transforming an up-and-coming area near Florida State University.

Eyewitness News Reporter Lanetra Bennett was there this morning for the groundbreaking ceremony.

The project is called, Catalyst. The 25-million dollar mixed-use development is going to transform the neighborhood between West Gaines Street and the southern boundary of FSU.

Project partners and city and county leaders broke ground on the project this morning. Partners say the vision for the 2.9-acre site is a student-housing sector. They say students in Tallahassee will be the first to experience a truly walkable, world-class community that will be noted for its creativity, quality and impact on the revitalization of this district.

Catalyst will have a five-story parking structure and an adjacent four-story residence building with 130 apartments with amenities such as full-size washer and dryers, ample closet space, and much more. On the top of the building will be a 2,000 square-foot deck with large-screen TVs, space to relax, and a clear view of Doak Campbell Stadium.

Partners say this area on West Madison Street is perfect for FAMU, FSU, and TCC students. But, what they're most proud of is the economic impact to the community. The project is expected to provide more than 400 construction jobs, and a number of jobs once the project is complete.

Catalyst will open in August 2013.

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Tallahassee, Fl – June 29, 2012 - 10:45am -

Chance Partners and the Carlyle Group breaks ground on Catalyst on June 29 on a 2.9-acre industrial site on West Madison Street for a new beginning as a mixed-use development near Florida State University, one of several serving to transform the neighborhood between West Gaines Street and the southern boundary of Florida State University.

The two firms formed their partnership out of their shared vision for the student-housing sector, according to Judd Bobilin, President and CEO of Chance Partners. “Students in Tallahassee will be the first to experience a truly walkable, world-class community that will be noted for its creativity, quality and impact on the revitalization of the Southgate District”, Bobilin added.

The Community Redevelopment Agency will make a significant contribution to the Project that will strengthen the desirability to live, work and shop in the district. “Catalyst, in conjunction with our efforts at the College Town project, will create the vibrant urban environment envisioned by our Gaines Street Project for this area,” said Michael Parker, Executive Director, Community Redevelopment Agency of the City of Tallahassee.

“We are pleased to team with Chance Partners, which has a successful track record in the Southgate District adjacent to Florida State University. This development is perfectly suited for the Tallahassee market,” said Brian Nelsen, Principal at The Carlyle Group.

Catalyst will have a five-story parking structure and an adjacent four-story residence building with 130 apartments with a mix of unit types from 1 bedroom up to 4 bedroom units. Each unit type will offer private bathrooms for every bedroom; gourmet kitchens, expansive living areas; hardwood-style flooring; ample closet space and full-size washers and dryers. This student housing community will have a full suite of premium amenities including a large clubhouse, pool, multiple study lounges and a fitness center. On the top of the building will be a 2,000-square-foot deck with large-screen TVs, space to relax and a clear view of Doak Campbell Stadium to the west.

At the corner of Madison and Gay streets, there will also be 3,500 square feet of
commercial space for lease. Catalyst will open in August 2013. Chance Partners began building in Tallahassee three years ago, following its pattern of housing development in college towns. More recently, the firm has concentrated its efforts on St. Augustine and Madison streets, completing townhouse-style apartments that have added to the residential flavor and
architecture of the neighborhood, which is walking distance both from campus and
from Gaines Street.


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