“We should start Monday — full force,” said Brent Federick with Second Street Plaza LLC of Ridgeland, Miss., the new owners of the former Food World store property.
Federick and his crew were at the store this week cleaning up and doing miscellaneous work inside the building before workers begin the transformation of the old grocery store front into modern-looking department store fronts.
The renovation of the commercial property is expected to cost around a half-million dollars.
“Give or take, and that’s just the outside,” Federick said.
He said outside work includes renovation of the front of the store, signage, improvements to the parking lot and landscaping to enhance the outside appearance of the property.
“It will look totally different from what it looks like now,” Federick said Wednesday.
He said there are two retail companies that have already signed lease agreements to move into the new development, Goody’s and Burke’s Outlet.
“We will have room for one or two more tenants,” Federick said.
He expects the new stores to open this fall.
“We also hope to have an out-parcel available at the location for another business,” Federick said.
The developer said it was a pleasure to work with local government officials.
“I’m very impressed with the Pell City leaders, along with the St. Clair County Economic Development Council Candice Hill, who I dealt with,” Federick said. “They have all been very professional and great to work with. I would recommend doing business in Pell City to anyone.”
The Pell City mayor and council approved a tax incentive for the developer as reimbursement for façade improvements to the property with non-educational taxes generated from the new stores locating there.
Officials say the city and county will share half of the non-educational sales taxes generated during a five-year period with the developer.
The amount of tax money the developer would receive is capped at the actual amount spent by the developer for visual outside improvements to the property and building, which officials estimated at $515,000.
Federick said Goodgame Company is the general contractor for the renovation project.
Second Street Plaza LLC will retain ownership of the property and lease the store spaces to businesses.
“I want to thank everyone for all their help,” Federick said.
He said Specialty Retailers bought the Goody’s name and is opening the store in Pell City. Goody’s offers men’s, women’s and children’s clothing.
Burke’s Outlets is a privately held company that is headquartered in Bradenton, Fla. The corporation operates more than 160 retail stores in 11 states.
According to its website, most Burke’s Outlets carry shoes, home furnishings, gifts and toys.
Jeff Jones, who was the former owner of the Food World Store property, said Second Street Plaza LLC closed on the commercial property last Friday.
Jones bought the Food World property in February 2011, almost two years after the Bruno’s Supermarkets LLC Pell City store closed.
In 2008, Food World stores in Pell City, Sylacauga and Moody were among 25 Alabama stores closed after Southern Family Markets bought 56 Bruno’s stores.
Southern Family Markets hired Hilco Merchant Resources of Northbrook, IL., to liquidate 25 stores, including the store in Pell City.
The liquidation and sale of the 25 stores was Southern Family Markets’ efforts to recover some of the $45.8 million owed to creditors, after Bruno’s filed for Chapter 11 bankruptcy protection in February 2008.
City officials said the former Food World Store property was an important piece of commercial property in Pell City, and the city would benefit from the renovation of an old existing building along a major thoroughfare in Pell City, along with new taxes generated from new stores that locate there.
Contact David Atchison at email@example.com.