My, Hasn't It Grown! RSA Battlehouse Tower Update

[Bama_75]

BankTrust bought a building we have a branch in. We are looking for new space for our downtown branch now. I don't see a bank letting a Credit Union have an office in there bank building. Needless to say, more office space downtown Mobile is being looked for.

[pkp]

That's going to be their operations center...

[Pandemonious]

Any updated daytime pics? Have they started cladding the crown yet? I am anxious to see how this thing ends up looking.. I want to do a diagram of it.

[Exodus]

Originally Posted by Alxx611

A semi-cool, month old Night-time pic:

If its hard to see anything in the pic, turn off the lights in your room, and the buildings in the pic are more visible:





Its a shame it turned out so dark, considering downtown looks suprisingly well-lit up at night.

Here ya go. Great shot btw

[Pandemonious]

I did say daytime above. I already saw those ones. They don't help give a sense of color or even what the cladding remotely looks like, for drawing purposes...

[Exodus]

Originally Posted by Pandemonious

I did say daytime above. I already saw those ones. They don't help give a sense of color or even what the cladding remotely looks like, for drawing purposes...

The person that posted the darker pic said he wished it didn't come out so dark, so I lightened it up for him.

[Alxx611]

Thanks by the way Exodus! That's a bit better. And as for our friend who demands daytime pics, I'll see if I can get some soon. ( I know we hear that all the time, but still, I'll try)

[Scottybo]

Originally Posted by Pandemonious

Any updated daytime pics? Have they started cladding the crown yet? I am anxious to see how this thing ends up looking.. I want to do a diagram of it.

Not started yet, just drove by today and they're getting close, at least that's the way it looks.

[nimsjus]

Why is this building in it's final stages and yet there is no news? No big tenant info, no topping out dates, no official oppenings, no open to the public days, nothing? The tenant thing makes me a little nervous because with all the hype about Bronner going out and finding people to move in himself, Im starting to feel like they might just plunder other office buildings.

[HSVTiger]

Originally Posted by nimsjus

Why is this building in it's final stages and yet there is no news? No big tenant info, no topping out dates, no official oppenings, no open to the public days, nothing? The tenant thing makes me a little nervous because with all the hype about Bronner going out and finding people to move in himself, Im starting to feel like they might just plunder other office buildings.

His style is to keep things close to the vest and quite. If anyone can do it he
can. When the announcements are made you'll know it.

[SouthSky]

Well, I hate to say this, but I still haven't heard anything new about this tenant I mentioned before. While that is not a good sign, it still can happen because of Bronner's relative secrecy. I will try to keep all posted about this company and any other I hear about.

Let's not forget that all the people involved in the project that I know are still very confident and happy about the way things are going regardless of this tenant.

[Musicisright]

^Well,

I was watching the news this morning and they were talking about a major company eyeing Mobile (they couldn't name them) that would bring 3,000 jobs to the city.

This is the one y'all have been talking about, right?

[austin356]

Originally Posted by Musicisright

^Well,

I was watching the news this morning and they were talking about a major company eyeing Mobile (they couldn't name them) that would bring 3,000 jobs to the city.

This is the one y'all have been talking about, right?

Southsky is refering to Shell Oil's NO corporate offices in One Shell Square. They have 1,000 employees there from what I know (someone correct me if that is incorrect, but I am 99% sure after reading many articles about them comin' back to the city after the cain) But 1,000 of these corporate jobs is a higher net benefit to the city than 2,000 manufacturing jobs. (guys please understand I am saying the entire city, of coarse the 2k man. jobs would better for the less educated; but thats just one facet of the economy)


But 3,000 jobs?? I would like to here about this.

[Musicisright]

Here you go.

Storm relief funds frozen to lure $3B plant here
Thursday, August 24, 2006
By MIKE PERRY
Staff Reporter
Gov. Bob Riley has frozen nearly $1 billion in tax-exempt financing available to Alabama under the federal Gulf Opportunity Zone Act in hopes of attracting a massive industrial prospect to Mobile, state Finance Director Jim Main said Wednesday.

Main refused to name the company, but said the deal could bring nearly 3,000 jobs to Mobile and a $3 billion facility larger than the Mercedes assembly plant in Vance. The company has selected Mobile as one of three potential sites for its plant, he said, and is requesting more than $900 million worth of tax-free bonds from the state.

Earlier this month, German industrial conglomerate ThyssenKrupp AG announced it would build a $3 billion steel complex in the southern United States, with Alabama, Arkansas and Louisiana identified as potential sites, according to reports.

Main said Riley began negotiating with representatives of the unidentified company during a trip to Europe about a month ago. The Alabama Development Office has continued the talks, and GO Zone financing has become an integral part of the potential deal, he said.

"The governor has decided not to make any more allocations until this prospect has decided whether it's going to come to Alabama. If we don't get them, that creates possibilities for many of the other allocations that are pending," he said.

Congress passed the GO Zone Act in 2005 as part of President Bush's plan to boost the Hurricane Katrina-ravaged Gulf Coast economy. Riley was given wide authority to allocate $2.17 billion in new financing through bonds. About $992 million remains available for new projects in 11 southwest Alabama counties.

Projects in Mobile and Baldwin counties have snagged slightly more than half of the total awarded thus far. Those projects are worth about $607 million.

Main referred to the Hyundai plant in Montgomery, which employs more than 2,800 people, in trying to compare the size of the prospect eyeing Mobile. He said the company was not involved in automotive manufacturing but declined to provide any more information.

"I want them to come to Mobile, and if we prematurely say they are coming to Mobile, they will scratch us off," Main said.

The governor expects to receive an answer from the company within 60 days, Main said, and the GO Zone freeze could last until then.

Pfil Hunt, president of Gardnyr Michael Capital in Mobile, said he has helped several commercial developers and other interested parties in Mobile, Baldwin County and Tuscaloosa apply for GO Zone financing in recent months. Hunt said he hoped Riley would reach a conclusion soon on the financing freeze, because many others are seeking the state's tax-free bonds for their business use. Tax-exempt bonds typically carry lower interest rates, which make it cheaper for businesses to borrow money.

"A lot of these other communities are trying to rebuild after hurricanes, and they need GO Zone to make their projects work," Hunt said. " But I would love to see a plant here with 3,000 jobs, so a 60-day delay is certainly worth it for that type of investment."

Bill Sisson, vice president of economic development for the Mobile Area Chamber of Commerce, said that confidentiality agreements prohibit any discussion of ongoing economic development recruitment. He said he could neither confirm nor deny that the Mobile chamber was involved in a project with the kind of investment and employment numbers Main mentioned.

Steve Perry, executive director of The Forum, a local trade association representing heavy industry, said it's unlikely that any facility would employ 3,000 people. The largest chemical plants in the area only employ between 700 and 800 people, he said.

A $3 billion to $4 billion oil refinery can employ up to 5,000 during the construction phase, and then no more than 1,000 during operation, he said.

"That seems like a lot of people for any kind of facility, quite frankly, in this day and age," Perry said of the prospect's reported employment figures. "That's how you compete with countries that don't pay a whole lot of money for wages -- you automate."

[austin356]

It is most likely the $3B steel complex (I heard about this a couple of weeks ago but didnt know it was directly geared toward MOB). Alabama already is mentioned and is the most logical place to put it is in Mobile, due to its GO funding (I dont think we even really deserve it.......... )

Ok if this takes up $900m of the .992 billion left then hopefully the Gov. can somehow still get in that downtown package of $40m discussed already. This project will might actually squeeze out that cumulative d-town package. Hopefully not. But anyways, this is mega mega news for the area. Where the hell are they going to find enough workers?????? The shipyards are already having to significantly raise wages, and offer promotions to get enough people. What happens if we win the Tanker contract?? thats another 1k+ jobs. And then get the regional corporate offices of the mutinational already discussed above? I am an economics major and I will tell ya I honestly think unemployment will then reach 2% or possible <2% if there is not a national downturn in the economy (and I think we will look back at 06 and compare it to 95, in retrospect on that subject). Mobile is gearing up for the its largest growth since WW2 brought all the country folk intown town.



One Comment........... If all this turns out to happen, then Europe Fucking loves Mobile. In the pipeline that I know about there are a possible 5,200 jobs from European companies alone. With yearly capital inflows via wages at $450,000,000 each year (when suppliers are included the wage inflows could near a BILLION dollars per year). That kind of capital inflows is massive in its own right, but that is the type of investment that sets off massive economic booms, like Atlanta in the 90's with all the tech money flowing into town.


Related but not the same topic: Does anyone know how much GO Zone, tax free bonds, MS and LA have available?

[elb401]

a lot more....but a greater percentage of their money is being spent on repairing after the hurricane. YEah, if that became a reality, I think you would see a lot of people moving to Mobile from the areas around us that have higher unemployment rates. Mostly the rural areas.....further decreasing their populations. thats sad, but I hope Mobile can pull it all off!!

[Scottybo]

If Riley gets this deal in, I'd say it's no contest that he'll be re-elected by at least 50% of the votes.

[elb401]

I think if he doesn't get the plant he is still going to win by more than 50% of the vote.

[Scottybo]

Originally Posted by elb401

I think if he doesn't get the plant he is still going to win by more than 50% of the vote.

[RSAHort]

Have any of you seen this before? VERY early in construction.

http://www.mmcmaterials.com/projects/RSABattlehouseHotelTower.html