RCP Companies officially broke ground yesterday evening on Anthem House, a $110 million mixed-use development in MidCity. This dynamic new development is designed to provide Huntsville’s expanding skilled workforce with a residential-meets-hospitality solution, including modern, efficient layouts, as well as vibrant, hotel-like surroundings and amenities. RCP leadership was joined by representatives from City of Huntsville, Huntsville City Council, Huntsville Chamber of Commerce, Cummings Research Park and 50+ community members for the groundbreaking ceremony.
“Anthem House is a lifestyle opportunity blending residential and hospitality for an innovative hybrid product appealing to Huntsville’s expanding workforce,” said RCP Co-Founder Max Grelier. “It’s boutique, social and invites an open door to MidCity. The loft warehouse aesthetic feels refined, seamless and stylish, all while being in the center of the action.”
Anthem House is a partnership between MidCity developers, RCP and Revolution’s Rise of the Rest Real Estate Initiative, which focuses on investing in real estate developments located in regional startup hubs located outside of Silicon Valley, New York City and Boston. With collaborative living, working and social offerings targeted to North Alabama’s young, growing workforce, Anthem House represents the latest iteration of RCP’s broader vision to create a place to live, work, play and stay in MidCity. Here’s the quick rundown:
- What’s Now: Cleared Site
- What’s Next: Mixed-Use Development
- Developer: The RCP Companies
- Architect: Todd Halamka + Partners (Rendering Credits)
- Interiors: Parts and Labor Design
- Leasing: Lincoln Property Company
- Contractor: ARCO Murray
- Anticipated Completion: 2025
- 330 Apartments
- 35,000 SF of Creative Office
- 33,000 SF of Street-Level Retail
With more government jobs per capita than any other U.S. city and a list of growing accolades including being ranked the No. 1 Place to Live in the country by U.S. News & World Report, Huntsville has attracted a significant level of attention from notable outside investors. Over the next five years, private investment in MidCity is expected to exceed $1.5 billion.
“From downtown to MidCity, it is encouraging to witness the many transformational developments happening throughout our city,” said Huntsville Mayor Tommy Battle. “We believe that a rising tide lifts all boats when it comes to commercial and residential development. We commend RCP for their collaborative efforts to bring award-winning tenants to Huntsville, provide a top-notch housing experience for our city’s expanding workforce, and enhance quality of life for our residents.”
“We are very excited to be expanding our presence in Huntsville, which we believe is one of the most unique up-and-coming cities across the country,” said Starling Cousley, partner at Revolution’s Rise of the Rest Real Estate Initiative. “There’s a lot to like about the city’s growth trajectory, but most importantly, it has an abundance of local visionary leaders like RCP who are the boots on the ground, making change happen every day. We believe MidCity will be a game changer in elevating Huntsville as a top mixed-use district in the region.”
The OPAL Fund, a nearly $19M Qualified Opportunity Fund, is an equity investor in Anthem House. The OPAL Fund was raised in 2021 by a benefit corporation subsidiary of Opportunity Alabama to catalyze investment in meaningful projects while seeking attractive risk-adjusted return for investors. According to Lindsay Edwards, chief investment officer at Opportunity Alabama, this project is well aligned with the company’s investment profile. “Anthem House – which will redevelop a vacant former mall site with critically needed residential units, retail, and office space in one of the hottest job markets in the US – was a great fit for the OPAL Fund’s impact, risk and return profile.”
For more information on the project and pre-leasing inquiries, visit MidCityDistrict.com.