MONTGOMERY, Ala. (WSFA) – Two long-vacant Montgomery properties are slated to undergo significant redevelopment after being bought by an Alabama-based investment group.

Leitman Perlman, a Birmingham commercial real estate company, announced Monday that Noble Investments, an investment management firm located in Anniston, has purchased 1702 Norman Bridge Road and 1614 South Decatur Street for a combined $480,000.

According to Leitman Perlman, the purchase is part of an ongoing effort by Noble Investments to revitalize the surrounding neighborhood and promote long-term stability within the community.

The property at 1702 Norman Bridge Road once served as a medical office building but has remained vacant since 2013. Similarly, the property at 1614 South Decatur street currently houses a vacant neighborhood strip center that has been underutilized for many years.

Noble said it will clear out the buildings over the summer to prepare them for future tenants and will look to lease the spaces to local small business owners.

Mark Cornwell, CEO of Noble Investments called the properties part of a much larger commitment to the area.

“This corridor holds significance for our team and me personally,” he said. “I grew up in this area, I’ve driven by these buildings my whole life, and my family still lives in the neighborhood. Noble’s investment here has been steadily increasing with a long-term perspective, it’s personal.”

Cornwell said the end goal is to create spaces that are clean, safe and economically viable for residents and local entrepreneurs.

In 2019, Montgomery Investment Group, a sister company of Noble Investments, acquired and redeveloped the nearby Flats on Felder apartment complex along Felder Avenue. More recently, Noble purchased 1708 Norman Bridge Road. The space is now home to two small business.

The company has invested more than $23.5 million in River Region developments since 2017.

Not reading this story on the WSFA News App? Get news alerts FASTER and FREE in the Apple App Store and the Google Play Store!

HUNTSVILLE, Ala. (WAFF) – People from across North Alabama went to Redstone Arsenal on Saturday night to celebrate the 251st birthday of the U.S. Army.

The Redstone Gateway hosted live music, food, games, and fireworks to mark the occasion. The gateway is one of the few parts of the Arsenal that is open to the public.

The event gave kids a chance to see real military equipment up close, including helicopters and Humvees.

“They love to see the Chinook especially, which is right behind me,” said Stephanie Stone, Marketing and Special Events Manager for MWR. “A lot of kids are amazed at all the Army vehicles that we have on display here. It’s hard to say if they’re more interested in the inflatables or the Army assets.”

Congress approved the Continental Army on June 14, 1775, a full year before the Declaration of Independence.

Click Here to Subscribe on YouTube: Watch the latest WAFF 48 news, sports & weather videos on our YouTube channel!