Initial Lane Parke tenant mix almost complete

Construction is expected to begin on the first phase of Lane Parke retail development in the fall, with stores to open by the final quarter of 2015.

At the July 14 Mountain Brook City Council meeting, John Evans of Evson Inc. announced that the Mountain Brook Village development is in negotiations for the final tenant needed for preleasing, which will complete about 80 percent of the tenant mix for Phase I. Once that tenant has been finalized, the developers will approach financial institutions. After funding has been secured, they will announce the specific tenants coming to the development as well as a timeline for construction.

“With Kessler [Collection] coming on board, interest from high end retailers percolated up,” Evans said. “We have a pretty good pick for the community.”

Robert Jolly of Retail Specialists said that all of the tenants will be the first to open a location in Alabama.

In other areas of the development, Evans said the apartments are scheduled to be completed in September and October, and demand for them is high. The Grand Bohemian, the inn being developed by the Kessler Collection, is scheduled to open by next summer after the construction was delayed to rain this spring.

 “All in all, we are in good shape,” Evans said. “We believe interest will increase once construction starts.”

Evans also said he estimates that the new Western Supermarket will be ready for the store to occupy about nine months after construction begins.