[TheCapstone]

New condos coming near Bryant-Denny Stadium

They will start the construction late 2016.

The condominium project will replace six aging structures, only four of which are safe for occupancy. The new development will be a 75-foot tall structure housing 64 units with a total of 179 bedrooms.

Prices are expected to range between $415,225 for 1-bedroom units to $1.38 million for penthouses.

Plans call for four 1-bedroom units, 24 2- and 3-bedroom units, five 4-bedroom units and seven 5-bedroom units.

Materials will consist of brick, glass, limestone and aluminum.

The project also calls for the inclusion of 198 on-site parking spaces for the 170 or so expected residents.

To construct the condominium project as designed and eliminate the requirement for retail space, developers sought the rezoning of the tract back to its original zoning of RMF-2U. The rezoning was approved by the City Council in May.

The development company maintains that retail would not work in the area because the property is blocks away from any kind of similar retail shops and lacks adequate parking for shoppers.

Spectrum Capital also submitted to the scrutiny of the city’s planned unit development process for permission to build to the 75-foot maximum height.

This company has owned the property since 2006 and originally planned to develop Dynasty Park, a proposed $110 million-$115 million development that envisioned a T-shaped 14-story tower with a 250-room hotel and another section with 65 condominiums.

That proposal also called for 19,000 square feet of retail space and a 738-space parking garage.

Plans for Dynasty Park were first proposed in 2008 and, at one time, it was expected to be complete by 2011.

Earlier this year, Summers said city officials later became “no longer enthusiastic” about a project of that size near the stadium and asked his company to scale it back.

“So, that's what we did and that's what we've been working on for the past year,” Summers said in April.

Councilman Matt Calderone, who represents the area as part of District 4, said he appreciated the company’s willingness to compromise with neighbors and city officials on the project.

As a result, no one was on hand Tuesday to speak against the project during the mandated public hearing before the council’s vote.

“This has been in the works for a terribly long time,” Calderone said. “ “It was nice see a developer work with the community in this way.”