A planned $100 million development will change the face of Mobile’s riverfront, Mayor Sandy Stimpson said at a press conference today.
River Walk Plaza will be a mixed-use development, including hotel, residences, office space, retail and restaurants. It will be adjacent to the Mobile Convention Center along Water Street and the Mobile River.
“It’s an image-changer,” said Stimpson. “It’s going to provide so many things that we don’t have today. It continues to raise the bar in the city of Mobile.”
The city is developing the property with Burton Property Group and Kessler Capital.
“This is an exciting opportunity for Mobile to have a truly world-class, mixed-use development on the downtown waterfront,” said Philip Burton, president and CEO of the Mobile-based Burton Property Group. “This project is still in its early stages, but the right team is in place to bring this project across the finish line. We have had incredible support from the City of Mobile and our Mobile community to bring this vision forward. When completed, River Walk Plaza will be a destination for Mobilians and visitors alike.”
Burton said the project will cost “north of $100 million.”
“This is too valuable of a site to do something small,” he said. “We wanted to do something to really maximize the potential.”
Burton said the plan calls for 50,000 square feet of office space, 30 condominiums, a 100-key hotel, two restaurants and a rooftop bar.
Kessler Capital, based in Savannah, Georgia, is a hospitality developer with a history developing high-end hotels and resorts.
“We see momentum and opportunity with all the success and growth that Mobile continues to experience,” said Laura Kessler, president of Kessler Capital. “These are remarkable times in the Port City, and our team is excited to be part of Mobile’s momentum and bright future.”
Alabama native Gray Reese, president of Gray Reese LLC Architects, is designing the project.
Groundbreaking for the project could be in late 2025, Burton said.