Colonial Promenade Alabaster

Colonial Promenade Alabaster is a lifestyle shopping center in Alabaster, Alabama, United States. Opened in 2005, the approximately 1,000,000-square-foot center became one of the largest retail properties in Shelby County and was designed as a regional commercial destination serving Alabaster and surrounding communities along the Interstate 65 corridor. Its tenant mix has included department stores, mass merchants, specialty retailers, home-improvement stores, restaurants, a cinema, and other consumer-oriented businesses. The property was developed by Colonial Properties Trust during a period of substantial suburban growth in central Alabama. The center was organized into North Promenade and South Promenade sections, giving it a broad, open-air lifestyle-center format rather than the fully enclosed design associated with a traditional regional mall. Reported tenants have included JCPenney, TJ Maxx, Target, Dick's Sporting Goods, PetSmart, Walmart, Lowe's, Belk, Ross, Old Navy, Books-A-Million, Bed Bath & Beyond, and an Amstar theater. Best Buy was also listed as a tenant before closing its location in October 2017. Tenant occupancy and merchandising have changed over time, as is typical for a large multi-tenant retail property. Colonial Promenade became nationally known not only for its commercial scale but also for the legal and political controversy surrounding its development. Some landowners resisted the acquisition of roughly 10 acres of the approximately 400 acres assembled for the project. A group of property owners sued the City of Alabaster and Colonial Properties, arguing against the use of eminent domain for a privately developed commercial center and objecting to the compensation offered for condemned property. In June 2003, the Alabaster City Council approved an urban-renewal and redevelopment plan that classified the targeted area as blighted. The city then entered arrangements involving condemnation, infrastructure improvements, and the transfer of land for development by Shelby Land Partners, a limited-liability company created to negotiate the project. The dispute received national attention, including television coverage featuring landowner Lily Spence. It was also cited in the broader debate over eminent domain after the United States Supreme Court's 2005 decision in Kelo v. City of New London. Alabama lawmakers subsequently enacted legislation restricting the circumstances in which eminent domain could be used for economic-development projects. The controversy gave Colonial Promenade an unusual place in discussions about the boundary between public redevelopment powers and private commercial development, even though the center itself continued to operate as a retail destination. The property's ownership and management structure changed several times. In December 2007, Colonial Properties sold Colonial Promenade Alabaster II and two outparcels while retaining management responsibilities. In December 2009, Colonial Properties reacquired Colonial Promenade after the dissolution of a joint venture. In December 2012, Huntsville-based Propst Properties acquired the North Promenade component. These transactions indicate that the overall destination has been managed through separate property interests rather than a single permanently unchanged ownership structure. Colonial Promenade Alabaster is best understood as a retail real-estate destination whose identity is tied to its location, tenant assortment, and development history rather than to a manufactured product line.

Colonial Promenade Alabaster was developed in Alabaster, Alabama, as a major open-air retail project serving the rapidly growing communities of Shelby County and the Interstate 65 corridor. Colonial Properties Trust was the developer. The project assembled approximately 400 acres, including about 10 acres owned by parties who opposed selling their land. Before construction, Wal-Mart and Belk had been identified as prospective tenants, signaling the intended scale and regional draw of the development. The land assembly became controversial because the City of Alabaster used eminent-domain powers in support of a privately developed commercial project. In June 2003, the city council approved the I-65, 238 Urban Renewal and Urban Redevelopment Plan, declaring the relevant area blighted. The city subsequently entered an arrangement to condemn and acquire property, make infrastructure improvements, and exchange land and related improvements for new facilities to be provided by Shelby Land Partners, a limited-liability company formed to negotiate the development. Ten property owners challenged the project in court, naming both the City of Alabaster and Colonial Properties. Their objections focused on the public use justification for taking land for a commercial center and on the price offered for condemned property. Lily Spence, one of the affected owners, publicly described her opposition, including in a CNN appearance. The controversy acquired national significance because it arrived amid a larger American debate over whether economic development and increased tax revenue could justify the compulsory transfer of private property to another private party. The dispute was discussed alongside the Supreme Court's 2005 Kelo v. City of New London decision. Alabama legislators subsequently passed a law narrowing the permitted scope of eminent domain in response to the broader controversy. The shopping center opened in 2005. At roughly one million square feet, it was described as the largest shopping center in Shelby County. Its North and South Promenade sections hosted a mixture of department stores, discount retailers, big-box merchants, specialty stores, entertainment, and services. Reported occupants included JCPenney, TJ Maxx, Target, Dick's Sporting Goods, PetSmart, Walmart, Lowe's, Belk, Amstar, Ross, Bed Bath & Beyond, Old Navy, and Books-A-Million. Best Buy was also present before closing its store in October 2017. The tenant roster has not been static, and the available reference material does not establish a complete current directory. The asset's ownership structure evolved after opening. In December 2007, Colonial Properties sold Colonial Promenade Alabaster II and two outparcels but continued managing the property. In December 2009, it reacquired Colonial Promenade after a joint venture was dissolved. In December 2012, Propst Properties, based in Huntsville, acquired the North Promenade. These transactions created a history of separately owned or separately identified components within the wider Colonial Promenade destination. The available sources do not provide a definitive current owner for every component or a verified current tenant list. Colonial Promenade Alabaster therefore has two complementary identities. Commercially, it is a large regional lifestyle center anchored by national retailers and entertainment uses. Historically, it is a prominent Alabama example in the debate over eminent domain for private commercial redevelopment. Its name remains associated with the Alabaster retail district, while its physical and ownership configuration has changed through property sales, joint-venture restructuring, and tenant turnover.

• 2017

  Best Buy closes

  [1]Colonial Promenade Alabasteren.wikipedia.org

  The Best Buy store at the center closed in October.

• 2012

  North Promenade changes ownership

  [1]Colonial Promenade Alabasteren.wikipedia.org

  Propst Properties acquired the North Promenade section of the complex.

• 2009

  Reacquisition after joint-venture dissolution

  [1]Colonial Promenade Alabasteren.wikipedia.org

  Colonial Properties reacquired Colonial Promenade after an associated joint venture was dissolved.

• 2007

  Sale of Alabaster II and outparcels

  [1]Colonial Promenade Alabasteren.wikipedia.org

  Colonial Properties sold Colonial Promenade Alabaster II and two outparcels while retaining management responsibilities.

• 2005

  Shopping center opens

  [1]Colonial Promenade Alabasteren.wikipedia.org

  Colonial Promenade Alabaster opened as an approximately one-million-square-foot lifestyle shopping center in Alabaster.

• 2005

  Alabama limits economic-development eminent domain

  [1]Colonial Promenade Alabasteren.wikipedia.org

  Alabama passed legislation restricting the use of eminent domain for economic-development purposes; the Alabaster controversy was among the matters cited in the debate.

• 2003

  Alabaster adopts redevelopment plan

  [1]Colonial Promenade Alabasteren.wikipedia.org

  The city council approved an urban-renewal and redevelopment plan that classified the targeted property as blighted and supported land assembly for the commercial project.

A large, convenience-oriented regional shopping destination combining major anchor retailers, specialty stores, home-improvement businesses, and entertainment in an open-air lifestyle-center format.

• Shopping-center district · 2005

  North Promenade

  The North Promenade is one of the two principal sections of Colonial Promenade Alabaster. Its reported tenant mix has included Walmart, Lowe's, Belk, an Amstar theater, Ross, Bed Bath & Beyond, Old Navy, and Books-A-Million, combining general merchandise, home improvement, apparel, books, entertainment, and other consumer services.

• Shopping-center district · 2005

  South Promenade

  The South Promenade is the second principal section of the center. Reported occupants have included JCPenney, TJ Maxx, Target, Dick's Sporting Goods, PetSmart, and Best Buy. Best Buy's location was reported closed in October 2017; the available references do not establish the current tenant roster.

• 2012

  Acquisition of North Promenade by Propst PropertiesM&A

  Background

  The broader shopping-center destination had developed separate ownership interests in its component sections.

  Action taken

  Propst Properties acquired the North Promenade.

  Aftermath

  North Promenade became associated with a different ownership entity from the original developer's overall property interest.

  Source

• 2009

  Reacquisition following joint-venture dissolutionM&A

  Background

  A joint venture associated with Colonial Promenade was dissolved.

  Action taken

  Colonial Properties reacquired Colonial Promenade.

  Aftermath

  Colonial Properties again held the property after the joint-venture structure ended.

  Source

• 2007

  Sale of Colonial Promenade Alabaster IIM&A

  Background

  Colonial Properties adjusted its ownership position in the broader retail complex.

  Action taken

  It sold Colonial Promenade Alabaster II and two outparcels while continuing to manage the property.

  Aftermath

  The transaction separated ownership of certain components from ongoing management.

  Source

• 2003

  Use of eminent domain to assemble development landStrategy

  Background

  The city and project participants needed to assemble land for a large private commercial development, including property held by owners who did not wish to sell.

  Action taken

  Alabaster adopted a redevelopment plan, condemned and acquired targeted parcels, and arranged land and infrastructure transfers connected with the proposed center.

  Aftermath

  The action prompted litigation and national criticism and became part of the policy debate that preceded Alabama restrictions on economic-development eminent domain.

  Source

1. 1Colonial Promenade Alabasteren.wikipedia.org
2. 2Colonial Promenade Alabaster official property sitecolonialcommercial.prospectportal.com