A new mixed-use development in downtown Mobile will wrap a hotel, restaurants, bars, offices, homes and storefronts into one riverfront location, city officials announced today.

“What I see this doing is really changing the image of the city,” Mayor Sandy Stimpson said at the project unveiling on Wednesday morning. “When people drive down Water Street and they see this hotel as they come up the river, they’re going to be impressed.”

The project, known as River Walk Plaza, is a development planned by the city, Kessler Capital and Burton Property Group. It’s expected to break ground in 2025.

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An exact price tag hasn’t been provided, but Phillip Burton, president and CEO of the Burton Property Group, estimated that the project will cost “north of $100 million.”

Mobile-based Burton Property has had its hands on many projects and properties in the area, including the South Alabama Logistics Park, the BB&T Centre, the Walmart Supercenter at Airport Boulevard and Schillinger Road and the Foley Square shopping center.

“The ultimate goal here is to be the catalyst to activate the waterfront and giving unfettered access to the water, allowing people to walk from our site, enjoy a beverage grab dinner and walk down to Cooper Riverside,” Burton said.

According to developers, the property is the only available site in downtown Mobile that can “truly connect the downtown entertainment district to the waterfront.”

“All ladies who have a string of pearls would love to see it offset by a big diamond. Am I right, ladies?” Stimpson said. “This is the diamond for downtown.”

The project began when Mobile requested proposals for a potential development at the waterfront property that’s located next to the Mobile Convention Center.

Hospitality developer Kessler Capital has been involved in projects such as the Grand Bohemian Hotel line, which has an Alabama location in Mountain Brook, and Plant Riverside, a riverfront entertainment district in Savannah, Georgia, according to Burton. Gray Reece, an Alabama native experienced in designing luxury hotels, is the architect working with the developer.

“When we go into cities, we’re looking for places where tourists want to come, but also where the leadership of the city is committed to making a better experience for its residents and its locals,” said Laura Kessler, president of Kessler Capital. “Mayor Simpson and your city council and all the members here really have the best interests of the locals at heart, which is really important to us as we do projects.”

River Walk Plaza is expected to provide access for cars and pedestrians over Water Street and the train tracks in front of the property. In addition to the entertainment potential, developers said they also plan to include state-of-the-art office space and condos. Developers said they are still in the early planning stages and will adjust plans based on stakeholder feedback.