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More mixed-use for Homewood: SoHo team plans $17M Broadway
Kaija Wilkinson
Staff

Scott Bryant, one of the principals in Cyprus Partners, which is developing Homewood's $55 million SoHo Square, is now setting his sights with partner Wayne Qualls on a $17 million-plus mixed-use project that he describes as the new entrance to west Homewood.

Pending rezoning and city approval, Broadway Park will be built at Broadway Street and Green Springs Highway, replacing five apartment buildings, dating from the late 1920s.

Says Qualls, "Originally we had looked at trying to do a rehab, because the architecture of those buildings is very nice, but they were way too run down. We had contractors look at them and they said they were just too far gone."

The developers' new four-story, primarily brick building will have 66-68 condos and a restaurant, along with two to four other service-related retail tenants on the ground floor with covered parking. Prices for the one-, two- and three-bedroom units have been set tentatively at $170,000 to the high $300,000s.

Bryant is talking with a local restaurateur about moving to Broadway Park from the restaurant's existing location.
Maintaining a style

Brian Roberson, architect with Cohen Carnaggio Reynolds who oversaw design of Broadway Park, says the building's design takes cues from the existing apartments. Though now in disrepair, the old apartments fit in with their surroundings, he says.

"The buildings already there were telling us something," Roberson says. The style could be described as cottage-y but "is more arts and crafts than anything."

Roberson says the exterior will have oversized, patterned brick with stucco and cast stone accents on some balconies. The base of the building will have stacked stone, and decorative steel screens will open into the parking area below the condos.

Bryant, Qualls and Roberson describe the location as prime residential property.

"That area of Broadway is a well-known back door, probably one of the most important parts of Homewood," Roberson says. "Not to say it's exactly like a fairy tale, but the atmosphere changes as you go down Broadway and when you make that corner into Edgewood it almost feels like a movie."
A village entrance

Roberson says this project will create an ideal "village entrance."

The partners closed on the more than 3-acre piece of property in December 2004, the old apartments were vacated in March 2005, and Bryant says they hope to have the city's approval by fall.

Condo reservations probably will be taken starting later this month and prospective buyers could sign pre-sale contracts in the fall.

The developers hope to break ground in December.

"We view this market for more of an entry-level homeowner in Homewood, such as young professionals and students," Bryant says.

Qualls says he began getting calls from people interested in buying a condo at Broadway Park before the project was officially announced.

"I've got a list of probably over 70 phone numbers of people who want to get on the reservation list, which we haven't even started yet," Qualls says. Broadway Park is Qualls' first venture into a mixed-use project.

He owns a mortgage company and has had his real estate license for 15 years.
Persistent caller

Qualls says he noticed the Broadway Park property several years ago, did some research, located the owner and called him.

After finding that the land was under contract with another buyer, Qualls decided to keep trying, calling back every several months to see if the deal had closed. Last August, the owner called to tell Qualls it had fallen through. With Bryant as partner, Qualls negotiated with the owner and they closed the deal.

Bryant says at 10 to 12 feet taller than the existing structures, Broadway Park will not significantly alter the skyline. The building will be 46 to 48 feet above structured parking.

Resident Kelli Gunnells was at the meeting when Bryant and Qualls presented their plan to the community, and says many in Homewood are looking forward to it.

"We've really been wanting something like this to happen here," Gunnells says. "Homewood has a thriving sense of community with people getting together and going out walking, and this project will only enhance it."

kwilkinson@bizjournals.com - (205) 443-5637

This is just tentative b/c the design is subject to change, but here's the basic look.

That looks like military housing at some of the nicer bases, mainly Air Force.

Yuck.

^ I'm not crazy about the design either and hope it actually does change. I was told, however, that the design was made to look like some of the buildings from the 1920s. The lower level design of the building will definitely change as originally it was expected to be covered parking, but now has been changed to retail.