UPDATED: New and Upcoming Projects. (Birmingham, Powell: national, interest, future)

[Zachadoo92]

I know there’s some supposed worker shortage in the construction industry because the demand is supposedly so high in the Birmingham area,but that being said it does seem like a lot of these projects are taking forever to just get started…never mind completed.

On the subject of the pricing of these condos and developments: little anecdote of when I was in highland park at Rojo. Overheard/listened to a conversation that two wealthy residents(assuming wealthy because they were home owners/condo owners in the area)were having. They just couldn’t seem to believe or understand why ANYONE with any common sense would live in these $1500 studio-1 bedroom apartments never mind these $2-3K 2 bedrooms in the area that are being developed. Just the value proposition compared to getting a mortgage on a single family home compared to these rents are absurd. The only people that can afford it are traveling doctors or lawyers.

Was interesting to hear and see my own opinions being regurgitated from more well off members of society.

[steveklein]

Originally Posted by Zachadoo92

I know there’s some supposed worker shortage in the construction industry because the demand is supposedly so high in the Birmingham area,but that being said it does seem like a lot of these projects are taking forever to just get started…never mind completed.

On the subject of the pricing of these condos and developments: little anecdote of when I was in highland park at Rojo. Overheard/listened to a conversation that two wealthy residents(assuming wealthy because they were home owners/condo owners in the area)were having. They just couldn’t seem to believe or understand why ANYONE with any common sense would live in these $1500 studio-1 bedroom apartments never mind these $2-3K 2 bedrooms in the area that are being developed. Just the value proposition compared to getting a mortgage on a single family home compared to these rents are absurd. The only people that can afford it are traveling doctors or lawyers.

Was interesting to hear and see my own opinions being regurgitated from more well off members of society.

As long as vacancy is low, the rents will be what they are. With the way rents have soared in the last 5 years, I'm surprised that there haven't been more apartment projects being built. As you say, there are tons of people willing to pay $1000 a month to live downtown, but not that many can afford $2000+

I suspect those increased rent prices is what made the final phase of 20 Midtown finally get underway.

[Zachadoo92]

Originally Posted by steveklein

As long as vacancy is low, the rents will be what they are. With the way rents have soared in the last 5 years, I'm surprised that there haven't been more apartment projects being built. As you say, there are tons of people willing to pay $1000 a month to live downtown, but not that many can afford $2000+

I suspect those increased rent prices is what made the final phase of 20 Midtown finally get underway.

I do wonder how much supply and demand is actually effecting these rent prices. I know nationwide we are kind of having a rent crisis…so I don’t know if it’s the inflation or what. I don’t have a degree in economics or anything,but I am curious.

The new apartments in Avondale called Axel Row are going for $1,300-$1,500 for a 1 bedroom of 695 sq ft. I don’t understand the appeal of living in an apartment that size for that amount of money. I’m just kind of flabbergasted and would generally just like to study someone that WANTS to pay that much under a microscope. I CAN understand the appeal of the area,but that’s still pretty ridiculous.

[Justin Scott]

Any word in regards to the Dansby Tower?

[mcalumni01]

Originally Posted by Justin Scott

Any word in regards to the Dansby Tower?

Will be in the proposed stage more than likely for the foreseeable future..

[TimCity2000]

Originally Posted by Justin Scott

Any word in regards to the Dansby Tower?

oddly, the website is still up (https://theblock.live/).

but yeah, i would be surprised if this thing has any legs at this point.

[magiccity3]

I still can't believe the BBJ ran with the story. It seems like it would have set off their BS radar through the roof.

[OldBankhead]

Who knows, it most likely did set their radar off, but they felt it wasn't their place to call them out or withhold the story because of who or what was making the claim.

[TimCity2000]

these apartments appear to be complete in avondale... looks like the name is Axel Row?






also think they did a good job on this 8-unit infill project called Avondwell, which is right behind the one above:

[bhamblazer]

The developers behind 20 Midtown just closed on the purchase of the Stivers Ford property downtown on 20th St S. The Ford dealership will remain until its lease is up in 2 years. The developers paid $22M for the property and are planning a $200M mixed-use development.

Can't wait to see what they have planned. It should be something pretty substantial if they're spending $200M.