Phase Three Expansion: Broad Metro buys final 65 acres for $4.6 million; city backs $200m plan

An Alabama developer has acquired about 65 acres in Hoover for $4.6 million, securing the remaining land needed for the third phase of Stadium Trace Village, a large mixed-use development that is already reshaping one of the city’s major commercial corridors. Broad Metro LLC completed the purchase on August 17, according to the company and a report by the Birmingham Business Journal. The property had been owned by 11 tenants in common, with real estate broker Lee Willcoxon IV representing the ownership group during the transaction. The acquisition gives Broad Metro control of the remaining property planned for Phase Three, extending Stadium Trace Village beyond its existing retail and commercial footprint.What is planned for the 65 acres?Phase Three is envisioned as a mixed-use district combining several types of development rather than a single-use commercial project.Plans call for retail space, medical facilities and professional offices, along with luxury residential development on the upper portion of the property. The combination is intended to bring homes, workplaces, healthcare services and shopping into the same development.Broad Metro has described the wider Stadium Trace ...