Homewood Begins Construction on New Morgan Stanley Headquarters

Construction site progress

Homewood Welcomes New Morgan Stanley Headquarters

Homewood is buzzing with excitement as construction has officially begun on a new 30,000-square-foot office building headquarters for Morgan Stanley. The site, located at 740 Shades Creek Parkway, was broken ground by the Birmingham-based commercial real estate firm The FiveStone Group and is set for completion next year.

The new office is being built on a one-acre lot right next to Shades Valley Lutheran Church, making it easily accessible for local residents and visitors alike. The construction will be managed by Hoar Construction, who will be overseeing the project from start to finish.

Investing in the Community

David Silverstein, President of the FiveStone Group, expressed enthusiasm about the partnership with Morgan Stanley and Hoar Construction. “We are thrilled to partner with Morgan Stanley and Hoar Construction on this project,” he said. “This development not only underscores our commitment to delivering top-tier office spaces but also reflects a strong investment in the local economy.”

Silverstein also highlighted the new building’s prime location in midtown Homewood, noting that it will provide excellent accessibility via a fully signalized intersection at Shades Creek Parkway. This is expected to enhance convenience for employees and clients alike.

Sign of Growth for Morgan Stanley

John Terry, the Alabama Market Executive for Morgan Stanley, shared his excitement regarding the new headquarters. “This new modern space will accommodate our organic growth,” Terry said. He pointed out that over the past five years, Morgan Stanley has experienced an impressive 53% growth in assets. The new office will serve as a significant step in reinforcing the company’s footprint in the local market.

Partners in Development

In addition to The FiveStone Group and Hoar Construction, several other firms are collaborating on this project. These include KPS Group, Schoel Engineering, Renta Urban Land Design, and D&A Companies. Together, they bring a wealth of experience and expertise to the development, ensuring that it meets the highest standards of design and construction.

Community Impact and Future Development

The new Morgan Stanley headquarters is expected to bring a positive impact not just to the company itself but also to the Homewood community as a whole. With new jobs and economic activity, residents can look forward to the benefits that follow such a significant investment.

For Homewood, this project marks yet another sign of progress and development in the area. As the city continues to grow and evolve, new establishments like this one reflect the strength and dynamism of the local economy.

Looking Ahead

The completion of the Morgan Stanley office building is slated for next year, and residents are eager to see how this development will enhance the landscape of Homewood. As construction continues, there will be ongoing opportunities for local businesses and residents to engage with the new establishment.

In conclusion, the groundbreaking of Morgan Stanley’s headquarters at 740 Shades Creek Parkway shines a bright light on Homewood’s growth trajectory. With strong partnerships and a commitment to quality, this project is poised to be a positive force in the community.

Author: HERE Birmingham