Summer Classics project likely moving forward in JulyPublished 11:26am Wednesday, June 12, 2013
By NEAL WAGNER / City Editor
The Summer Classics furniture company could begin moving into the former Moore Handley building in Pelham if the company finalizes an agreement with the city and Shelby County in the next few weeks.
During a recent Pelham City Council work session, Mayor Gary Waters said he signed off on the city’s end of the agreement on May 31, and said Summer Classics had 30 days from the signing of the papers to inspect the building.
After the 30-day inspection period, Summer Classics will have six days to sign off on the deal to purchase the building.
On May 21, the council voted to purchase the 30-acre property from the HHH Acquisition company and sell 17 acres to Summer Classics.
Through the agreement, Pelham will loan Summer Classics $3.275 million to purchase the 17 acres. Summer Classics will make mortgage payments to the city to pay the amount back. A portion of the $3.275 million loan will be provided by Shelby County and the county’s Industrial Development Authority.
The Shelby County Commission voted this week to provide $1 million to cover its portion of the loan.
Plan calls for Summer Classics to occupy the entire former Moore Handley building and warehouse, and construct a 10,000-square-foot showroom on the front of the building.
The proposed plan also calls for a 9,000-square-foot possible retail outparcel to be constructed between U.S. 31 and the former Moore Handley building and an 18,000-square-foot strip mall-type development to be constructed slightly southeast of the former Moore Handley building.
Pelham Council President Rick Hayes previously said Summer Classics is working to move into the warehouse “within the next 12 months,” and likely will construct the new showroom within 12-18 months.
Pelham is working with the Retail Strategies consulting firm to attract developers and retailers for the outparcels. The council is looking to sell the outparcel properties to developers within the next 12 months, according to Hayes.