Huntsville Housing Authority officials say the Councill Courts property has been sold to Bristol Development Group, PGM Properties and Triad Properties.
According to a news release, the housing authority received $5 million from the deal that will be used to buy more property throughout the city for affordable housing.
The housing complex, closed in 2009, is currently being torn down.
The release states that Bristol and PGM will build about 250 apartments, a Publix supermarket, restaurants and retail shops on the site, which they will call Twickenham Square. Triad Properties will build a Homewood Suites hotel and large office tower.