Rendering courtesy of city of Hoover
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A rendering of the proposed Riverwalk Village development in the Riverchase community of Hoover, Alabama
The city of Hoover on Wednesday joined with the Healthcare Resources real estate development company and Regions Bank to announce a planned mixed-use development in Riverchase that is designed to include health care services, walking trails, green spaces, housing and retail areas.
The new Riverwalk Village development is planned to be on a 90-acre tract near Riverchase Parkway that includes two buildings with 450,000 square feet of existing offices owned by Regions Bank in the Riverchase Office Park.
Regions Bank has a North Building and South Building on the property, each about the same size, the company said. Healthcare Resources has a contract to buy the 90 acres from Regions Bank, and Regions Bank plans to lease the North Building and consolidate employees from both buildings there, spokeswoman Veleka Finch said.
Regions Bank will continue to own and manage its Riverchase Operations Center, located a short distance away from the Riverwalk Village site. Regions has about 2,500 employees in the Riverchase area in total, and this consolidation will not have any impact on the number of jobs or employees based there, Finch said.
The new Riverwalk Village will include the Riverwalk Health & Wellness Center, which will be designed to offer a wide range of health care services for all stages of life, from pediatrics to geriatrics, according to a press release from the city of Hoover.
The development is being facilitated by the Hoover Health Care Authority, which is in the process of putting together an application for a “certificate of need” with the Alabama State Health Planning and Development Agency for a new health care facility in Hoover, said Alan Paquette, chairman of the Hoover Health Care Authority.
Paquette said the authority is still trying to determine exactly what type of facility and services for which it will seek approval.
It won’t be a traditional hospital offering critical care services, he said. Instead, it more likely will be a “non-traditional hospital” or “boutique hospital,” potentially with outpatient surgery and other forms of ambulatory care that don’t require long-term hospital admission, Paquette said.
The city expects to have more announcements within the next four weeks about major initiatives to complement the Riverwalk Village project, he said.
The authority’s vision is to create, develop and promote a forward-looking, innovative medical district within the city, in which health care providers, health research companies and clinical educators can thrive with knowledgeable and motivated partnerships, according to the city’s press release. Expanding high-quality clinical opportunities for area residents is a high priority within that vision, the release said.
“Hoover needs enhanced health care opportunities to keep pace with our continued growth,” Paquette said. “The Hoover Health Care Authority is excited to have great partners as we expand the availability of innovative wellness, diagnostic, treatment and restorative services for our residents and visitors. … This unique campus will elevate the quality of life across our city and neighboring communities.”
The Health Care Authority doesn’t yet have a medical or hospital partner, Paquette said.
However, the site is ideal because it’s already in a business district and has good access to U.S. 31 and Interstate 65, he said. It’s a good location to serve not just Hoover, but other parts of Shelby County, too, he said.
Hoover Mayor Frank Brocato said in a press release that the city is excited to unveil this project.
“It will be a significant development for the metro area,” Brocato said. “Riverchase is a beautiful, Class A office park which has been an important part of our city’s development. As the global economy changes, it is smart planning to reimagine what these areas can become. Riverwalk Village’s combination of wellness, business, residential and clinical care will help propel Hoover into our next chapter.”
Hoover Council President John Lyda said in the press release that providing high-quality access to health care is a defining metric in a city’s mission to build and sustain a high quality of life for its residents and visitors.
“Riverwalk Village will be a transformative project for the Riverchase area of Hoover that will offer additional, state-of-the-art access to care and serve as a catalyst for commercial and residential investment,” Lyda said.
Brett Couch, head of corporate real estate and procurement for Regions, said in a press release that Regions is proud to build on its long-term commitment to Hoover while helping strengthen the community by supporting these additional services and public green spaces.
“Regions Bank and our associates will continue to have a major presence throughout Hoover, both in Riverchase and our nearby branch locations,” Couch said. “And we’re pleased our associates will be among the beneficiaries of the new wellness development and other amenities in Riverchase.”
While health and wellness will be a prime focus at Riverwalk Village, the development also will include a central green space with a variety of other amenities in a park-like setting to enhance the quality of life in Hoover and surrounding areas, the city said. The plans also call for community spaces and miles of trails to improve walkability and connectivity, linking the northern and southern parts of Hoover.
“We are excited about Riverwalk Village, what it will offer to current Hoover residents and the potential for what it can become,” said Christy Roddy of Healthcare Resources, in a press release. “The future of health care is focused on integrating prevention and wellness as part of overall patient care. This site is uniquely positioned to be able to bring those aspects to the community. We feel honored to be a part of this incredible opportunity.”
The proximity of the Riverchase property to existing research, biotechnology and life sciences companies reinforces the chosen location for this health-focused development and has the potential to attract not only specialty medical groups but also additional life sciences and biotech companies to the area, the city said.
The development team for this project also includes Corporate Realty, Home Communities Co., Brasfield & Gorrie, Goodwyn Mills Cawood, and Earl Swensson Associates.
