New $242M Alabaster development off I-65 to bring 75 new businesses

A new massive development bringing approximately 600,000 square feet of new retail, restaurant and hotel space is coming to the town of Alabaster.

The development, which is called District 31, was given the “green light” after the City of Alabaster City Council approved an incentives package on Monday, March 25th. 

The project is located at the northwest quadrant of U.S. 31 and Interstate 65, off I-65 Exit 238.

Development is expected to begin Summer 2024

According to a city news release the investment totals $242 million. 

The company in charge of the project, Alumni Properties & Parkes Development Group is expected to break ground around mid to late summer 2024 once final approvals and permits are issued.

Building construction is expected to start in 2025.

What kind and how many stores, offices and hotels are expected to rise from this development? About 75 new businesses.

Here is the projected list:

• 7 new-to-market national and regional anchor stores
• Outparcel restaurants: 3 projected national brand-name sit-down full-service/fast casual restaurants
• Small shops: 15 to 20 service and boutique-style shops
• Fast casual restaurants: 10 to 12 new restaurants
• Potential hotel with retail spaces: 10 to 12 new shop spaces
• Office space containing 5 to 15 office suites
• Shoppes at District 31 fronting U.S. 31: 14 total spaces (8 restaurants and 6 service-oriented shop spaces)

“District 31 is poised to deliver several new-to-market retailers and restaurants that have been looking for a destination development in southern Shelby County. 

The project would not be possible without the support from the City of Alabaster and the commitment from city leadership and staff. We also want to thank Alabaster Water Board, Shelby County, ALDOT, Alabama Power and many other interested stakeholders for their continued and future support. 

Our team remains committed to delivering the best available tenants to the city to create a dynamic mixed-use environment at the city’s front door.”

~ Alumni Properties Managing Partner and CEO Keith Owens

Alabaster is on a roll

The growing community of Alabaster has attracted a new Big Whiskey American Restaurant, Michaels, and Chubbfathers since December 2023

With this massive new $240 million investment, expect more to come.