11-21-07 Silver Companies to Build Vacation Destination in Opelika, Alabama

Tamiko Lowery, Staff Writer
Wednesday, November 21, 2007

What locals have long known about the area, those outside its realm are now discovering.

That was evident Tuesday when Silver Companies announced it would build a vacation destination that would draw people to Opelika to "Celebrate Alabama."

No longer will locals have to clamor to convention centers in Georgia since Silver Companies intends to build an expo center along Interstate 85 as part of the project that will stretch from Exits 64 to 66. The development will be surrounded by luxury hotels, restaurants and retail. The project will be anchored by a hotel with an indoor water park, theatre space for live entertainment, a multi-screen drive-in theatre, upscale RV park, apartments, bus tours and pedestrian-friendly trails. Celebrate Alabama, dubbed a major retail, entertainment and attractions destination, is expected to span more than 535 acres and when complete will create approximately 5,000 jobs with a capital investment approaching $1 billion, according to Silver Companies and city officials.

Based in Metro Washington, D.C., and Boca Raton, Fla., Silver Companies has already taken Fredericksburg, Va., out of its frame and onto the map with its Celebrate Virginia concept that will serve as a blueprint for Celebrate Alabama.

Silver Companies CEO Larry D. Silver said wheels were turning toward Opelika a year ago. Opelika Mayor Gary Fuller met with Silver at the Boca Raton, Fla., headquarters.

"Larry said to me, ‘We’re thinking about buying a little land in Opelika,’ " Fuller said.

Silver said he and his team found a pro-growth area in a city surrounded by historic significance and bursting at the seams toward economic growth. He admitted the TigerTown development played a major factor in the decision-making process as did the massive construction up the road in West Point, Ga., where Kia dirt continues to turn. As those in real estate know, he said, it’s all about location - whether it’s residential or commercial, the locale must be point-on.

As a Celebrate Alabama video flashed legendary faces and historic places across the overhead screen at city hall Tuesday, local fourth-graders could be seen making their way to the front of the room toting poster-size pictures of heroic figures that helped make Alabama great. As part of the project, Silver Companies will erect 50 life-size statues fashioned after high-profile Alabamians lining a two-mile stretch.

"The total potential of things evolved. Sometimes a little bit of luck happens, a little bit of strategy pays off," Silver said of the Celebrate Alabama project, which is expected to take about eight to 10 years to complete with the first phase tentatively done in 24 months.

While he cannot say how many retail stores would be housed in Celebrate Alabama, Silver said he expects the square footage to stretch close to four million.

Economic Development Director Al Cook said the project is a dream come true.

"Celebrate Alabama is the culmination of a lot of work by a lot of people," Cook said. "It will pay dividends for years to come."

Once the expo center is complete, Silver said it will serve as a catalyst for more industry to locate in the area.

"Regional and statewide conventions will be held in Opelika," Silver said.

He said the expo center will draw musicians, artisans, sporting events, festivals, trade shows and consumer shows geared toward fishermen, hunters and cooking enthusiasts, just to name a few.

"People are always looking for something to do," Silver said.

And something to aspire to, said John Elkington, chairman and CEO of Performa Entertainment Real Estate Inc.

"There’s no greater region than the South. You’ve got great writers, musicians, food, culture, history all right here," Elkington said. "We want to create something unique, different and special."

Fresh from Branson, Mo., he said Celebrate Alabama will be even better than that.

"We want to promote this place. We will be on television telling people to come to Opelika for a vacation," Elkington said.

Bob Siegel, president of Robert L. Siegel & Associates Inc., pointed out that by and large people are leaving metropolitan areas for places like Lee County. He said the growth of Auburn University, military bases, auto manufacturing, retail and East Alabama Medical Center have all played a part in drawing people here.

"Opelika has been sitting on the cusp maybe 10 years," said Siegel, who has 40 years of growth trend experience.

Silver Companies is expected to break ground in Opelika during the first quarter of 2008 with grading of pasture land taking about 18 months.

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