March 28 Real Estate Update

According to AL.com, Waffle House paid $750,000 for Lot 10 in the Encounter development on Highways 181 and 104 in Fairhope, according to Herrington Realty. The development is a 13-lot commercial project on 35 acres. Watch for The Cove at Bear Point Heights, a single-family subdivision with seven lots being considered for the northeast corner of Canal Road and Avenue C in Orange Beach. There are plans for The Waters at OWA, a multifamily development off OWA Boulevard and west of the Foley Beach Express in Foley. The project would include 324 units in 10 buildings. Hotel developers are seeking site plan approval to build a Hilton Hotel and a TownePlace Suites by Marriott on Eastern Shore Boulevard in the Eastern Shore Centre in Spanish Fort, according to city planning. Parking space requirements are under discussion with the city. The eight-story Embassy Suites hotel under construction in Downtown Gulf Shores is scheduled to open this summer, and the Hilton-brand resort is already taking reservations for August 1 and beyond. The hotel on West Beach Boulevard across from the beach and The Hangout features 257 rooms, a lobby bar and restaurant, a rooftop amenity terrace, a pool deck and 13,620 ft² of meeting and pre-function space. There will be a three-story parking garage and 7,618 ft² of retail space for lease. In Mobile, a local company paid $376,000 for 2,900 ft² at 5910 Grelot Road, according to Chris Harle of White-Spunner Realty. The buyers plan to use the property for office space.