Bobo Family Group Proposes Exciting Plans for Tennessee Street in Florence

Bobo Family Group Proposes Exciting Plans for Tennessee Street in Florence

A local development group has an exciting vision for downtown Florence. The group has proposed a mixed-use development on Tennessee Street designed for 112 residential units and 323 office spaces. 

 

This five-story development would border East Mobile and Walnut street and North Wood Avenue on property that currently is not developed.The plans include residential units for families, office spaces for companies to rent and a plaza area.The top of the space is reserved for a rooftop plaza including a bar or fine dining restaurants. The group floor space would be reserved for a grocery store or retail spaces. The development proposal includes the construction of a new 504 space parking deck through a public private partnership with the city of Florence. 

 

The new addition of the proposed building development would positively impact the Shoals community financially. A recent economic impact study cited that the development could have a $111 million impact in the Shoals area and produce around 730 jobs directly or indirectly. 

 

"This is an upscale development that would be a huge addition not just for the central business district but for the entire city. It's positive growth and I hope it works out," said City of Florence Mayor Steve Holt.

 

Although this development is still in the early planning stages, Bobo Family Group has already met with companies interested in office spaces. To have the plan green-lighted, the team needs 55 percent of the offices pre-leased. 

 

“As both a local advocate for the area and a board member of the Shoals Economic Development Authority, we have to focus on and develop a plan for our economic future. This includes multiple fronts but more specifically employment,” said Bobo Family Group CEO James Bobo II. 

 

Bobo believes this is a step in the right direction for economic development in the Shoals. “We have to stop speaking within the realm of “this is all we can do” to “this is what we’re going to do". Our employment scene will never change unless we begin to think and act, as a whole, outside of the box.”

 

Bobo Family Group has been responsible for the development of apartment complexes in the community such as Seville Place and Pinebrook as well as the opening of Taco Mama in downtown Florence. 

 

For more information on Bobo Family Group visit their official website at bobofamilygroup.com.

 

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