The MidCity development in Huntsville is estimated to be an $850 million project, a $500 million increase from the initial agreement in 2016.
District Five City Councilman Will Culver said the price tag increased because the development is now bigger than initially planned. He cites additional apartments, businesses and high-end hotels coming to MidCity as the main reason.
Culver says the MidCity development is now the 12th largest real-estate development project in the country. He says changes are coming.
"We're looking at 150,000-square-feet of commercial space. The retail is probably going to be the same at 550,000-square-feet, but just some minor tweaking that's going on as they move forward," Culver said.
Culver says the initial estimate of 900 multi-family units, like apartments and condos, is now up to 1,400. Not only that, he says the plans called for two hotels, but now, four will be coming, including a Marriott. The hotels will have a total of 650 rooms.
Culver says the contractor believes the area needs more high-quality hotels to keep up with demand and growth. Sandra Blanding, a Huntsville resident, agrees.
"A lot of the better hotels, are closer to downtown, but if you are out here on business for the Arsenal or some other companies, this would be a better location to stay," Blanding said.
WAAY 31 wanted to find out how much of the $850 million project is coming from the city, and ultimately, taxpayers. City officials say they are budgeted for $12 million to $15 million toward infrastructure on the project.
Culver says the MidCity project should take five years to complete. The $50 million amphitheater is also going to be a part of the development as well.