Redevelopment of the old Chrysler building on U.S. 31 South will produce three new restaurants for Cullman later this year.

Ming Enterprises of Athens purchased the building Wednesday, as well as the old Fred’s building across the street. The development will cover two phases named Cullman Row East (Chrysler building) and Cullman Row West (Fred’s), said Bill Ming, owner of Ming Enterprises.

Cullman Row East will be host to Firehouse Subs, Diablo’s Southwest Grill, and Marco’s Pizza, Ming said.

“We’ve been looking at an opportunity to invest in Cullman for more than a year,” Ming said. “We have some clients for Cullman Row West, too, but we will announce more about that project later. Our priority is to have Cullman Row East open by the third quarter this year. We also think this will open up more development opportunities on U.S. 31, which is Cullman’s highest traffic area.”