Set to open this summer, Stella at Five Points, a four-story, 325-unit mixed-use building, is the first development of its kind in Huntsville, Alabama’s Five Points neighborhood. 

Zac Gibbs, executive vice president of development at the project’s developer, Montgomery, Alabama-based Halstead, told Multifamily Dive that the company was drawn to the location because of the mature community around it — particularly the surrounding Old Towne and Five Points Historic Districts. “You walk those streets and you see the mature trees and the quaint housing and architectural style — it just feels a little different than in most other multifamily projects in Huntsville,” Gibbs told Multifamily Dive. 

Halstead is largely a commercial developer and contractor that has made multiple forays into multifamily since 2018. Stella at Five Points’s apartments will range from studios to two bedrooms, with two units set aside for the property’s artists-in-residence, who will create artwork for display on site and host classes for residents.

The property is coming into the neighborhood ahead of a streetscape improvement project that will extend landscaped medians along the full length of the street. “I think this project is a catalyst to continue that redevelopment and really transform the area,” Gibbs said. 

Here, Gibbs spoke with Multifamily Dive about the Huntsville market, historic character and the role of art in the life of the Stella at Five Points property.

This interview has been edited for brevity and clarity.

MULTIFAMILY DIVE: What makes now the right time for this property to come into Huntsville?

ZAC GIBBS: The timing has a lot to do with the infrastructure. The project is located on Pratt Avenue, which has always been this line where development stopped, and a lot of that was just because of the flood zone. The infrastructure was not in place to manage stormwater until now.

The project really started acquiring lots in 2018, one lot at a time. So it's been quite a long time since we started. And we just felt like it was time to sit down with the city and come up with a master plan that was impactful, but that would also encourage that transition across Pratt Avenue for future development.

Huntsville is a great, great city, and there's so much going on. I mean, just the quality jobs that are being created in that market are super appealing. But you also have a really pro-business, pro-development city government that encourages smart, thoughtful development, and they've really been a joy to work with.

What sort of amenities and unit features do you plan to offer?

Our tenants and residents, when they walk in the door, are going to feel like they're in a little bit of an elevated property. We try to engage all their senses with our artists-in-residence program and all the little unique things that we bring to the table. We've got courtyards, we've got sculpture gardens, we have art installations, we have makerspaces to encourage residents to be creative. So it's really an interactive residential experience.

Can you tell me more about the artists in residence program?

With Gallery Residential, which is our third-party manager, we've piloted an artists-in-residence program in another property. We take some units on the front end and we go out and we find local artists, and we invite them into the property, and in return for living on the property they're creating art on site. 

We have two artists-in-residence so far in Stella at Five Points. One is a sculptor who will be creating the sculpture garden. And then we have another artist who will be doing a mural. But in addition, those two artists will be teaching classes in our makerspace for residents.

What have been some of your biggest challenges putting this development together?

Obviously interest rates. It's a challenging time. We've battled COVID, and we've made it through all of the shortages of materials and backorders of materials. Labor hasn't been as bad on this project as other projects. But I would just say interest rates and the trepidation of potential renters making decisions. People seem to be in a holding pattern when making decisions.

Do you anticipate similar developments coming online in Huntsville in the near future?

There are a lot of multifamily developments in the pipeline. A lot of units have delivered over the past 24 months. I think we were extremely thoughtful and careful when developing this property so that ours would stand out. But we do anticipate new developments popping up all over town. There's so much energy and so much buzz. So many Fortune 500 companies are calling Huntsville home. You’ve got Boeing, NASA, Polaris; you’ve got Mazda and Toyota facilities. You’ve got an Amazon facility. There's a lot going on. It's just a great market to be in.