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 Village expansion as part of a long-term plan to create a destination that combines commercial, healthcare, entertainment and community uses.The company’s plans for Phase II and Phase III follow the success of the first phase, which opened in 2019 and now includes retailers, restaurants, healthcare providers and other businesses. Broad Metro says the development attracts more than 3.5 million visitors annually and has generated more than $252 million in taxable revenue since 2019.
City backs next stage of expansion
The land purchase comes shortly after the Hoover City Council approved an economic development agreement supporting Stadium Trace Village’s continued expansion. The council approved the agreement by a 7-0 vote in July. The deal supports both Phase II and the groundwork for Phase III, with Broad Metro’s wider expansion plans representing more than $200 million in private investment.Phase II is expected to add an approximately 80,000-square-foot surgical plaza, more retail and restaurant space, recreational attractions and the Village Green, which will include an amphitheater and community gathering space. The development is also expected to bring infrastructure and pedestrian-connectivity improvements to the area.
A larger mixed-use destination takes shape
The newly acquired acreage represents another step in Broad Metro’s effort to expand Stadium Trace Village beyond its original commercial center. The company’s existing development sits near major transportation routes in Hoover, including Interstate 459 and John Hawkins Parkway, and has become a significant commercial destination in the Birmingham region. Broad Metro says the project has grown into a development featuring national retailers, restaurants, healthcare and hospitality businesses.The company has not announced a construction timeline for Phase Three. For now, the $4.6 million acquisition clears one of the major hurdles for the next stage: securing the land on which the planned homes, shops, medical offices and workplaces can be built. With the property now assembled and the city having approved the broader development agreement, Phase Three marks the next chapter in Stadium Trace Village’s expansion across Hoover.