Renasant Bank 'Gateway' expected to open in late March

Feb. 17—The new Decatur headquarters that Renasant Bank hopes will serve as a gateway into the city and into downtown is slated to be operational by the end of March.

The building is located at 119 Sixth Ave. N.E. on the south corner of Lee Street Northeast and Sixth Avenue, at the site of the former Lucky's Supermarket. It is two stories, about 7,800 square feet, and will have an all-glass front design.

Tim Lovelace, Renasant Bank Northwest Division president, said they are calling the building "Renasant Gateway Decatur."

"It's the new entrance to Decatur is what we were going for and so we wanted something that would match, that would line up with some of the recent construction in Decatur such as the Cook Museum (of Natural Science)," Lovelace said.

The building has a modern style to match newer downtown Decatur construction, Lovelace said.

"We wanted something with a new updated look that would look good on that corner and be something that would look good for the city given how prominent that corner is," he said.

The corner was chosen, Lovelace said, because it has good traffic counts and is in a highly visible location. He said the corner is also a main entrance to downtown.

"A combination of the entranceway to downtown Decatur on Lee Street, the visibility of ... Sixth Avenue, both together work to make that a very favorable corner," Lovelace said.

The building has been under construction since early 2022.

"Getting the parking lot paved was a big thing because for a while it was muddy," he said.

Crystal Brown, Decatur-Morgan County Chamber of Commerce president and CEO, said the building will change the landscape as people enter downtown Decatur.

"But even coming across the bridge and coming down the Sixth Avenue/(U.S.) 31 corridor it will be an 'A-ha' for those that do and even for us as local citizens," she said. "Something to be very proud of."

A planned Sixth Avenue streetscape will include the bank's location. The Decatur City Council has approved the burial of power lines, the first step in the roughly $10 million project aimed at revitalizing a 1 mile stretch of Sixth Avenue from the river bridges to Delano Park.

"A lot of resources have been invested in the revitalization of downtown," Brown said. "I think that Renasant recognized that and I would assume that was part of their decision because they could see a growing, vibrant downtown. The Sixth Avenue streetscape plan is all a part of that. Being able to create a very attractive entryway to our city certainly will enhance that."

Brown said all along the idea behind the revitalization of Sixth Avenue was to have an inviting entryway to the city.

"We were told early on when we at the Chamber developed our Residential Development Task Team that the one thing we needed to focus on ... is we needed to pay special attention to creating an entryway that would make people say, 'Hey, I've arrived in Decatur; this is a place I want to spend some time in,' and even for our own citizens to be proud of," she said. "The Renasant Gateway Decatur will certainly help us do that."

Brown said it will entice new businesses to the downtown area as well.

"I think it will be a catalyst for other development opportunities," she said.

The new bank, Lovelace said, will have more space than the facility Renasant will be leaving at Lee Street and First Avenue Northeast, as well as updated technology. He said it will be the first Renasant Bank in Decatur to have interactive teller machines (ITMs). ITMs are like ATMs but will include a video camera and telephone for customers to interact with service representatives.

"It will allow us to have some extended hours. We haven't finalized those yet, but it will allow us to offer some extended hours above what we do now," Lovelace said.

Lovelace hopes the bank will be completed and operational by the end of March.

"We may have a few punch lists but we're hoping to be open for business sometime toward the end of March," he said.

Lovelace said the cost of the project is about $5 million.

"I haven't seen the final numbers yet to know exactly because we're still getting things in," he said.

—erica.smith@decaturdaily.com or 256-340-2460.