What UAB’s new master plan means for commercial real estate in Bham

{ Full Birmingam Business Journal Article Here } As revitalization in the city center of Birmingham continues, there is one specific area where a high percentage of future growth could be of the vertical variety – the University of Alabama at Birmingham campus. In this week’s Cover Story, we took an in-depth look at UAB’s recently approved master plan. Two words …

Alabama exceeded expectations for job growth in 2015

{ Full AL.com Article Here } As we at the Alabama Department of Labor are wrapping up our facts and figures for 2015, and preparing to begin reporting on 2016’s progress to date, I wanted to take a moment and reflect on the highs we experienced over the past year, and their impact on our state’s economy. As far as …

CMBS Choking on High Spreads

{Full Multi Housing News Article Here } CMBS prices have dropped precipitously since last fall, which in turn has forced securitization programs not only to widen loan spreads but to decline to lock in rates until closing. Recent volatility in the fixed-income market is proving to be disastrous for CMBS programs, which have virtually stopped lending with no clear end …

Birmingham firm buys Mississippi apartments for $14M

{ Full BBJ article here } Birmingham-based StoneRiver Co. acquired Tracewood Apartment Homes, a 280-unit apartment community in Jackson, Miss., for $14.2 million. According to a release, the property is located in the Northeast Jackson submarket, with easy access to Jackson and Madison County. It is StoneRiver’s first Mississippi property. “Tracewood fits ideally with our strategy of acquiring and upgrading …

Rock Advisors Recent Closing: Investors buy Alabama apartments for $14M

{ BJCC Article Here } Country Club Apartments, a 224-unit apartment community in Tuscaloosa, recently sold for more than $14 million. Birmingham’s Rock Apartment Advisors represented the seller, a California-based investor. The property was sold for $14.7 million to Nashville-based Legacy Property Management Group. It’s the group’s first property in the Tuscaloosa market, and it plans to upgrade interiors and …

North Shore apartment developers aim to be best in area

{ Full Article Here } New apartments on the North Shore will be situated near Renaissance Park and the Tennessee River, in walking distance from countless restaurants and shops, and close to Publix. “[We’re going to have] great amenities all over the place,” Andrew Hibbard with hotel management and development company Vision Hospitality Group said. “Renaissance Park is in your backyard. …

Hoover to vote on future of large apartment development

The Hoover Planning and Zoning Commission on Monday plans to vote on a proposed recommendation to rezone 273 acres along Interstate 459 in an effort to block the construction of a possible apartment development. Hoover city officials are currently seeking to rezone the property, as opposed to the property owners, according to a report from the Hoover Sun. U.S. Steel …

comments Huntsville named the best affordable city in the U.S.

{ Full AL.com Article Here } A new study ranks Huntsville as one of the cheapest cities you’d actually want to live in in 2016. Livability.com has named the Rocket City the most affordable in the U.S. The website created the list using five criteria: median household income, income equality, consumer spending, entertainment options and economic conditions. “Spending levels in …

Remington exceeds hiring and wage goals at Huntsville plant

{ Full Birmingham Business Journal Article Here} Remington Outdoor topped previously set hiring and wage goals at its plant in Huntsville. The Chamber of Commerce of Huntsville-Madison County said the firearm maker had 324 employees as of Aug. 31 with an average hourly wage nearly $10 higher than listed in the development agreement between the company, City of Huntsville and …