History of Project LT
What does the “LT” stand for? Because Project LT is the cornerstone of the entire portfolio, it is the lithos timios, or as translated from the Greek, “precious cornerstone”.
Before acquisition, this corner was a Chevron gas station with an adjacent mechanic and tire shop. It had been a staple in Mountain Brook for some forty plus years, but it had become dilapidated and was not to the HABU (“highest and best use”) for the location.
This property was acquired on January 19, 2007. It was decided that much more could be done with such an invaluable location, with its best use suited for retail. Retail Specialists, Inc., was instrumental in the investment and market analyses in this decision and strategy. This would mean that a new building would have to be built and that maximum space of the lot achieved before the new city council restrictions took place which limited the size of any new development.
At this point around April of 2007, demolition, environmental clean-up, and deed restriction removal was directed by the founder, but aided by the talents of Charles Denaburg of Najjar Denaburg. In the end, all was accomplished and the site was ready for build in August of 2007.
The founder hired an exceptional architectural father and son team, Lauren and Brian Barrett, on October 15, 2007, who possessed a solid track record of noteworthy designs. After several consultations, a new building was designed with over 9,100 square feet, included an outside patio and a second floor with balcony seating, an unknown in Mountain Brook, that overlooks the bustling Village Circle.
After a handful of interviews with various construction companies, in March 2008, the founder hired an an aggressive and talented individual, Will Ross, who was with a smaller firm, Nearen Construction at the time. This allowed for construction to begin in April of 2008 by Mr. Ross, who while cutting costs and exceeding the time deadlines, erected a beautiful building which fits the English Tudor style of the Mountain Brook Village, a historic location with development dating back to the 1920’s.
The anchor tenant was signed on February 26, 2008, with a successful restaurateur who spent several months finishing out the interiors of both spaces. The two restaurants were open for business in March of 2009, with very unique concepts in both, one downstairs and one upstairs.
Despite the difficult economic climate, the second tenant, a high-end nail salon, was signed a year later on February 12, 2009, and opened for business in April of 2009.
The third tenant was just signed on May 8, 2012, after a brief lease negotiation period. This tenant, Swoop, is an upscale children’s retailer, sells clothes, toys, and miscellaneous children’s items.