The owner of Madison Square Mall and Pizitz Management Group, the owner of the department space which was originally Pizitz, then McRae's, then Belk (before the purchase by Belk of Parisian and the merging of the two stores) and now empty building have announced plans to construct office space in the empty department store space. Office space will aslo go into the former Steve and Barry's space as well as the former Piccadilly's Cafeteria space. for more info check out,
http://blog.al.com/huntsville-times-business/2010/08/cbl_associates_pizitz_manageme.html
This office spae is to be called Senterprise Center at Madison Square. Buried in the last paragraph of the article, it says, "Jana Kuner, group marketing director with CBL & Associates, said that in the next couple of months "we hope to have some announcements for national retailers (at Madison Square) and some nonretail, nonoffice growth."
this makes one think that they may be looking at housing - possibly apartments to make Madison Square a true mixed us faility. For those who have proclaimed the death of Madiosn Square, they may have been premature.
As most on this forum, believe there will be a downtown revival, it ishard to see when there is no new office construciton going in downtown and only so much demand for it.