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Huntsville expects to pull in at least $8.4 million a year in revenue from the North Village Town Center development. That includes $2.3 million annually in property taxes for land sold to the developers of Home Depot, Super Target and Express Oil Change at the $240 million development at the North Memorial Parkway-Bob Wade Lane (Northern Bypass) intersection. About $1.1 million of that revenue will go to Huntsville City Schools, City Director of Urban and Economic Development Shane Davis told the Huntsville City Council last week. The city expects to pull in another $6.1 million in sales tax revenue generated by the development’s businesses. The retailers are expected to draw not only shoppers from north Huntsville, but also from Meridianville, Hazel Green and other northern Madison County communities, as well as shoppers from southern Tennessee. Davis said he has seen models that estimate 10% of the revenue from the development will come from Tennessee. “This intersection is going to become very dense in retail and lifestyle services very quickly over the next 18 months,” Davis said. The city also expects to pull in $925,000 in one-time building fees, as well as $2.25 million in one-time sales tax revenue from construction materials. Construction is expected to begin on phase one in the late first quarter or early second quarter of 2026, with stores opening in 2027. The phase is expected to include another anchor tenant that will be announced at a later date, as well as junior anchors. The development will include multiple national and regional restaurants on the campus, Davis said. Davis said the city is in negotiations for another 16 acres across the bypass from the Home Depot and Target that will be part of phase two. He said contracts for that parcel of land should come before council next year. The city also controls outparcels adjacent to the Express Oil Change property across the Parkway in front of the Food City that opened in July. Davis said the city is currently in negotiations for each of the parcels. Council President Jennie Robinson called the development a “game-changing” first step. The area has also seen recent openings of Starbucks, Circle K and a Sub Stop carwash. The city is also in the process of purchasing land adjacent to the North Village Town Center development for a $50 million Huntsville Hospital medical facility.
