Question about real estate

[WJSim]

I personally think that B'ham has a lot of rentals. I have also thought about this but worry about over saturation based on current rentals and the many that are currently being developed. Would be interested to hear views on this as well.

[steveklein]

Originally Posted by WJSim

I personally think that B'ham has a lot of rentals. I have also thought about this but worry about over saturation based on current rentals and the many that are currently being developed. Would be interested to hear views on this as well.

Certainly a valid concern... given that the vast majority of the new rentals are in the same general price range. There are still a lot of units available at the newly opened places and a lot of new ones are coming online very soon with the next portion of 20midtown, the Thomas Jefferson Tower, and Pizitz.

But we'll see. Many people definitely prefer the city living as opposed to the suburbs, but it remains to be seen if the numbers are there to pay the rents these places need to command to be profitable to the developers.

With that being said, these places wouldn't get off the ground if market research didn't indicate they would do okay.

[projectmaximus]

Originally Posted by preguntas

A fairly large new urban housing neighborhood has just announced construction to start in Woodlawn. The past two years have seen an incredible, and to me, unexpected growth of business and social arts in the community. The sweat equity seems to be attracting dollars now at an ever increasing rate. The surrounding communities to the south have shown such growth that some of the WL growth should be called spill over. There are also a number of large business properties that are filling in between Woodlawn and DT.

I personally believe a lot of this is just pent up from the last eight years of the nations economic stagnation. Smaller companies are moving forward where the 'big guys' have left a void. There is surely a lot of outside investment; but the local investment is impressive.

Thanks for sharing your thoughts! Is Woodlawn particularly walkable?

Originally Posted by TimCity2000

norwood is slower going, particularly because it doesn't have a "commercial" center like, say, woodlawn and avondale, which have driven growth there. but i think it will be one of the next ones. i have 2 friends that have bought houses there in the past year. plus with the bjcc expansion, new stadium, top golf and potential renovation of carraway hospital, the neighborhood is poised to be one of the next big areas to gentrify.

Are you saying Norwood should benefit from the BJCC expansion and top golf? Are those in Norwood?

Originally Posted by WJSim

I personally think that B'ham has a lot of rentals. I have also thought about this but worry about over saturation based on current rentals and the many that are currently being developed. Would be interested to hear views on this as well.

Yeah, I feel the same way about Jax. However they are different classes and different target tenants here. The detached SFH is appealing to some folks who are not looking for an apt complex. And, at least in Jax, the new apartments are almost all high end luxury prices.

[projectmaximus]

Also, are these places in the < 100k price range?

[Tourian]

Originally Posted by projectmaximus

Are you saying Norwood should benefit from the BJCC expansion and top golf? Are those in Norwood?

Norwood is adjacent to Uptown. Topgolf's draw and numbers are extremely high. So it stands to reason that demand for Uptown will increase as others hooe to cash in on the crowds that will gather because of it.