Huntsville MidCity District Secures Dollar : Huntsville’s MidCity District is set to receive a substantial financial boost of over $20 million through an investment from Benson Capital Partners (BCP), a New Orleans-based venture capital group. Founded in 2019 by Gayle Benson, owner of the New Orleans Saints and governor of the New Orleans Pelicans, BCP specializes in investments across various sectors, including tourism, logistics, health care, and energy.
BCP’s investment, totaling more than $5 million, demonstrates the firm’s commitment to supporting transformative projects, aligning with RCP Companies’ vision for the MidCity District. Keith Schneider, Managing Director for Benson Capital’s real estate fund, expressed excitement about contributing to the redefinition of community spaces within the MidCity District.
In addition to the investment, Randy Wolfe, Senior Vice President and Managing Director at Northmarq, facilitated a $13.75 million loan for MidCity Placemakers Retail II. This retail space spans 82,669 square feet within the MidCity District and is part of the larger development near Cummings Research Park and Redstone Arsenal.
The MidCity District, a burgeoning area, is strategically located and expected to feature 1,865 residential units, 925 hotel keys, office spaces, and outdoor gathering spaces. The recent financial infusion, along with the long-term loan provided by Northmarq, positions MidCity for remarkable growth and underscores the commitment of RCP Companies to creating thriving environments.
The partnership between Benson Capital Partners and MidCity developer RCP Companies signals a bright future for the MidCity District and highlights the potential for transformative development in the Huntsville community.