Riverwalk: 91-acre development plan in Riverchase heads to City Council
Plans for the Riverchase Office Park were first developed in the 1970s, and regulations for its development were first approved by the Hoover City Council in 1981.
Now, more than 40 years later, a health care real estate company called Healthcare Resources is partnering with Signature Homes and proposing some major changes to a large section of the park.
The two companies want to take 91 acres, which are owned by Regions Bank and contain two office buildings between Riverchase Parkway East and Interstate 65, and convert the property into a mixed-use center that includes office, retail, health care, residential and recreational uses. The development is being called Riverwalk.
The Hoover Planning and Zoning Commission on Oct. 9 gave its approval for the development, and now the plan is scheduled to go to the Hoover City Council for a public hearing and vote on Nov. 20.
Currently, the two buildings owned by Regions Bank comprise about 450,000 square feet of office space. Healthcare Resources wants to buy the entire acreage and buildings, and Regions Bank plans to consolidate its operations from those two buildings into the northernmost building, leasing the space.
Healthcare Resources plans to use the other building as part of a new Riverwalk complex that would include up to 134,000 square feet of new commercial buildings, 375 age-restricted multi-family residential units (for ages 55 and older), 120 unrestricted multi-family residential units, 102 single-family residential units and up to 135 hotel rooms.
A key part of the plan is a Riverwalk Health and Wellness Center, which would be designed to offer a wide range of health services for all stages of life, from pediatrics to geriatrics.
Robert Simon, a founder and manager for Healthcare Resources, said the Hoover Health Care Authority will be seeking permission from the Alabama State Health Planning and Development Agency for development and operation of a “non-traditional” or “boutique” hospital, with outpatient surgery and other forms of ambulatory care.
No primary hospital or health care partner has been secured yet, Simon said.
The Riverchase development plan amendment that was recommended for approval by the zoning board said, “Riverwalk’s combination of wellness, residential and clinical care will provide access to high-quality health care focused on integrating prevention and wellness as a part of overall patient care. The Property’s proximity to existing research, biotechnology and life sciences reinforces the location for such a health-focused and residential development.”
The idea is to follow a “new urbanism” development plan, creating walkable neighborhoods containing a wide range of housing sizes, prices and styles and within close proximity to commercial and civic spaces.
The property would have a “town center” that would include greenways, parks, sidewalks and open spaces for residents, tenants, employees, guests and the general public. Commercial buildings could include both office and retail uses.
“We’re trying to bring this site into the 21st century,” said Doug Jeffords, chief construction officer for Corporate Realty, the parent company of Healthcare Resources.
The existing development plan for this 91-acre parcel allows for almost 1.1 million square feet of commercial office space, and so far there are only two buildings on the property totaling 454,000 square feet, Jeffords said. That leaves room for another 638,000 square feet of office space with the current plan, so this new plan is consistent with the Riverchase founders’ intentions for the site, he said.
Darrell Skipper, a traffic engineer working for the developer, said he projects the new development plan would generate 250 fewer peak hour morning trips than the original development plan but about 400 more peak hour afternoon trips.
“We know we’re going to be adding traffic to Riverchase Parkway. We know we’re going to be adding traffic to Valleydale Road,” Skipper said.
The developer agreed to add some additional turn lanes on Riverchase Parkway East, lengthen some others and change the timing on the traffic signals on both Riverchase Parkway East and the portion of Valleydale Road between Riverchase Parkway East and Southlake Parkway, Skipper said.
The development plan also calls for leaving 31.6 of the 91 acres as “open space,” including lakes, flooding areas, greenways, parks and natural or landscaped areas.
Sidewalks would be required along frontage roads, Riverchase Parkway East and Office Park Circle. The minimum square footage per residential unit would be 500 square feet, and there would be no minimum residential lot size and no maximum building height for any of the buildings.
The development plan also calls for a 10-foot-wide greenbelt along Riverchase Parkway East and Office Park Circle. There are three entrances on Riverchase Parkway to enter the property.
If the City Council approves the Riverwalk plan, Healthcare Resources and Signature Homes intend to begin development of the property promptly following completion of all necessary engineering and related professional work, which is expected to be completed by January, according to the amendment.
However, it is anticipated that development of the property will take several years, and development will be based on market demand, so there is no firm development schedule outlined in the agreement.