Developers sell apartments, retail space of The Banks - WSFA.com: News Weather and Sports for Montgomery, AL.

Part of The Banks sold to Nashville based company

Posted: Updated:
  • More newsMore>>

  • ASU board chairman resigns, vice chairman refuses

    ASU board chairman resigns, vice chairman refuses

    Thursday, July 24 2014 11:15 PM EDT2014-07-25 03:15:01 GMT
    At the request of Alabama Governor Robert Bentley, ASU Board of Trustees Chairman Elton Dean announced Thursday in an emotional radio interview that he is resigning. Trustee Marvin Wiggins says he's not leaving.More >>
    At the request of Alabama Governor Robert Bentley, ASU Board of Trustees Chairman Elton Dean announced Thursday in an emotional radio interview that he is resigning. Trustee Marvin Wiggins says he's not leaving.
    More >>
  • Columbus man credits his life to HIV/AIDS researchers killed aboard flight MH17

    Columbus man credits his life to HIV/AIDS researchers killed aboard flight MH17

    Thursday, July 24 2014 10:48 PM EDT2014-07-25 02:48:10 GMT
    Prominent HIV/AIDS researchers were among the 298 victims identified aboard flight MH17. To honor their legacy, the Chattahoochee Valley Better Way Foundation is hosting a candlelight vigil. We spokeMore >>
    The Chattahoochee Valley Better Way Foundation to host candlelight vigil to honor top HIV/AIDS researchers killed in Malaysia Airlines Flight 17 on July 18th, 2014. More >>
  • Planes with Ukraine bodies arrive in Netherlands

    Planes with Ukraine bodies arrive in Netherlands

    Thursday, July 24 2014 10:23 PM EDT2014-07-25 02:23:33 GMT
    Ukraine's government says 51 containers holding bodies and body parts of victims of the Malaysia Airlines crash are ready to depart for the Netherlands aboard two military transport planes.More >>
    Two more military aircraft carrying remains of victims from the Malaysian plane disaster arrived in the Netherlands on Thursday, while Australian and Dutch diplomats joined to promote a plan for a U.N. team to secure the...More >>
CINCINNATI, OH (FOX19) -

The developers of the first phase of the Banks have sold a portion of Phase IA of the project, including multi-family apartments and the ground floor retail space below.

The new owner, NIC Riverbanks One, LLC is an affiliate of the Nicol Investment Company, a privately held company headquartered in Nashville, Tenn. with a long history of successful business pursuits including senior housing, office, retail, industrial and self-storage properties.

The new Phase IA owner will be governed by the same Master Development Guidelines as Carter/ Dawson so that the original community vision of the project is maintained and quality is assured.  The retail and apartments will continue to be leased and managed by Jeffery R. Anderson Real Estate and Village Green respectively.

Carter/Dawson and USAA Real Estate will continue to own the remaining portions of The Banks Phase I which includes the two outparcels located south of the Freedom Center and the Phase IB hotel and office sites.

Carter/Dawson is planning to commence construction of Phase II of the Banks, adjacent to the Freedom Center, by the end of the year.  Phase IIA consists of 305 apartments, approximately 19,000 square feet of retail and a pad site for future development which could include office, apartments or a hotel.

Copyright 2013 WXIX. All rights reserved.

Powered by WorldNow