BIRMINGHAM, Alabama — For more than 100 years the Powell Avenue steam plant served a major source of energy for Birmingham. Now leaders at Alabama Power Company want to use the historic building to generate new civic and cultural energy. Alabama Power President Mark Crosswhite this afternoon announced the company’s plan to redevelop the former industrial plan into an entertainment …
Apartment Rents Rise as Incomes Stagnate
Apartment landlords continued to push through hefty rent hikes in the second quarter, squeezing U.S. households that already are struggling financially after four years of steady increases. The average monthly rent for an apartment rose to $1,099 in the second quarter, up 0.8% from the first quarter, according to data to be released Wednesday by real-estate research firm Reis Inc. …
MF Posts Best Quarter in More Than a Decade
{ full article here } DALLAS—For both occupancy and effective rent growth, the second quarter was the strongest that the multifamilysector has seen more than 13 years, according toAxiometrics data obtained EXCLUSIVELY by GlobeSt.com. The apartment and data research firm says both metrics exceeded expectations, with occupancy reaching levels not seen since Q1 in 2001 and rent growth posting its …
The Big Cities Leading A U.S. Manufacturing Revival
{ See Slideshow here } No. 6: Birmingham-Hoover, AL 2013 Manufacturing Employment: 38,900 2013 Manufacturing Job Growth: 3.4% 2008-13 Job Growth: -3.8%
Birmingham’s Jemison Flats sold for $6.3 million
{ full article here } BIRMINGHAM, Alabama –Jemison Flats, one of the pioneering downtown loft apartment and office projects that helped spur downtown redevelopment westward, has been sold for more than $6.3 million. Rock Apartment Advisors worked with Auction.com to close the sale of Jemison Flats. The 58 lofts apartments are 98.28 percent occupied. The project also has 28,000 square …
Forbes ranks Birmingham No. 6 on list of America’s New Industrial Boomtowns
{ full article here } Manufacturing companies looking to expand or locate in the United States all have their eyes on the South and theBirmingham-Hoover metro is on a trajectory to be one of America’s New Industrial Boomtowns. According to Forbes, the Birmingham-Hoover metro ranks No. 6 out of 10 large cities that are on the rise when it comes …
Montgomery’s historic Bell Building getting new role with 80 housing units
MONTGOMERY, Alabama — A building that has stood out in Montgomery for many years is getting a new role. Mayor Todd Strange says an Indiana couple has purchased the Bell Building in downtown Montgomery. The 187-foot-tall office building was constructed in 1907 by businessman Newton Bell, and it was the tallest building in downtown for years. Strange told WSFA-TV (http://bit.ly/1s6qSii …
Condo Towers Rise From Boston to L.A. in U.S. Rebound
{ full article here } For the first time since the U.S. housing crash, new condominium towers are sprouting in downtown Boston, Seattle and Los Angeles as developers bet on the return of the riskiest type of residential real estate. Buyers are signing deals to reserve units in two new high-end projects in Boston. A 41-story tower rising in Seattle is the …
Haslam: Administration ‘re-engaged’ in talks with Volkswagen on Chattanooga expansion
{ full article here } NASHVILLE — Gov. Bill Haslam said Thursday his administration is back in discussions with Volkswagen officials over state incentives and other assistance programs needed to persuade the German auto manufacturer to build a new line of vehicles at its Chattanooga plant. “We’ve re-engaged in discussions with them,” Haslam told reporters. “I don’t really have any …
REV Birmingham’s David Fleming addresses what’s happening at the Thomas Jefferson Tower
{ full article } REV Birmingham CEO David Flemingweighs in on the Thomas Jefferson Towerrenovation in downtown Birmingham, including what the massive project will mean for the surrounding area of the city center.