Neal Embry Starnes Media
Daniel Communities president John Gunderson talks to the Vestavia Hills City Council at a Jan. 24 work session about The Bray, a major proposed development in Liberty Park.
New plans for The Bray Town Center and residential development on roughly 700 undeveloped acres in Liberty Park were made public at a Jan. 24 Vestavia Hills City Council work session.
The plans, an update of plans presented in late 2020, include updates to the city’s annexation agreement with Liberty Park, as well as a development agreement which provides a revenue-sharing formula if certain benchmarks are set, as well as the donation of land to the city to be used for a future school site. The development agreement also enables the dedication of existing and future roadways and new public spaces to the city.
John Gunderson, president of Daniel Communities, which is developing the project on behalf of LPJV, said the plans for the residential development included building no more than 270 luxury multi-family units, along with some active adult and senior living facilities. Liberty Park Joint Venture is already entitled to build a total of 576 multi-family units.
The new development would also include building the remaining 662 single-family homes LPJV is currently entitled to build, and Gunderson said Daniel is requesting an additional 644 residential units, but did not specify whether that would be single-family or multi-family. The council would have to approve that request by approving updates to the annexation agreement.
If those requests are approved, a total of 1,882 residential units would be built at The Bray, which is the land behind Publix, which would serve as the entrance to the town center, a new, 102,000 square-foot commercial development that will include a luxury hotel, restaurants, specialty retail and general business, and, hopefully, Gunderson said, a top-grade medical office.
Liberty Park represents one of the last undeveloped places in the city, and this plan provides a great opportunity for revenue growth and improvements to the city, Gunderson said. The roughly $860 million project is expected to lead to $307 million in city and county revenues over the course of 25 years. Of that amount, Gunderson said about $236 million will stay in the city and of that amount, about $121 million will directly support Vestavia Hills City Schools.
The proposed revenue-sharing agreement stipulates the city will provide $12 million in a rebate of city taxes -- not including property tax -- and fees over a 20-year period, funded by new money from building permit fees and a percentage of tax revenues. If the development does not progress or perform as planned, the city does not pay, as set out in the development agreement. The actual document was expected to be posted online Tuesday morning, said the city’s communications director, Cinnamon McCulley.
Liberty Park Joint Venture would also build new infrastructure, including sidewalks and sanitary sewer, as well as extending South Liberty Parkway to Sicard Hollow Road. The city would pay that back up to $11 million if certain benchmarks are met and after the work is done. That payment would be given in two, $5.5 million installments.
The first payment would come after the construction of a public park and green spaces in the town center, along with sanitary sewer and road improvements. The exterior shell of the hotel would also have to be built, and 25,000 square feet of retail would have to be ready for tenant improvements before the city pays the first installment. The money would be sent to LPJV in a two to three-year time frame, and $2.5 million will come from existing road reserves upon the dedication of currently private roads to the city, as well as intergovernmental money.
The second $5.5 million installment would come after the extension of an arterial road to the intersection of Sicard Hollow Road and South Liberty Parkway, along with the completion of roads in Liberty Park and a trail system. The money would be paid back over a five to 10 year time frame, McCulley said, and would come from anticipated revenues from development and other sources. The hotel would have to be open for business or 25,000 square feet of retail would have to be open in order for the money to be paid back, said the city’s special counsel, Whit Colvin.
The city will have to approve the development agreement in order for the plan to move forward.
The developers will also donate 15 acres to the city, which will be used for a new school site. Gunderson said the land may need “a little improvement,” but will be ready to build on. The school system’s lawyer, Mark Boardman, said the land would likely be used for an elementary school, though the system does not take a position on the proposed development.
The school system would also ask the city for financial support in building the school, but Boardman did not say what that amount would be.
While there is current capacity throughout the school system, Boardman said VHCS will likely need another elementary school by 2027, and if The Bray is developed as presented, that timeline would likely move up a few years given the presumed addition of students into the city.
A town hall meeting on the plan is set for Jan. 31 at 6 p.m. with another to follow at noon on Feb. 10, both at City Hall. Residents will hear the plans presented and have a chance to comment and ask questions. The city is also listening and answering questions at Vestavia Hills Listens, and has also dedicated a web page to the project.
A vote on the development is set for Feb. 28 at the regularly-scheduled council meeting.
