{ Full AL.com Article Here } A 16-story high rise apartment building years in the making is scheduled to start construction late summer. Atlanta-based Cortland Partners is developing a 318-unit luxury apartment building at 2173 Highland Avenue S. The building is made up of two sections – a 16-story high rise portion and a five-story portion and parking deck. The …
EDATEs pave way for Studer complex
{ Full Pensacola News Journal Article Here } Quint Studer anticipates delivering the first apartments at the former site of the News Journal by May of next year after Gov. Rick Scott on Wednesday signed a bill clearing up confusion around property tax exemptions for the project. Scott signed the bill Wednesday morning, paving the way for Studer to secure financing and begin construction on …
Mando America planning for $19M expansion
{Full Birmingham Business Journal Article Here} Mando America Corp. announced plans last week for a $19 million expansion to its North American headquarters in Opelika, a move that would create an additional 32 jobs. Since moving the location of its North American headquarters from Detroit to Opelika in 2003, the South Korean company has been regularly producing automotive parts for …
Historic tax credit legislation passes House
‘The Alabama legislature can create jobs across the state as well help transform aging downtown markets by passing the Historic Tax Credit renewal’ { Full Birmingham Business Journal Article Here } Lawmakers in the Alabama House of Representatives today approved House Bill 62, which will extend the Alabama Historic Rehabilitation Tax Credit program – a tax credit that has …
Yardi: Multifamily Rents Hit Historic High in March, Again
The national average rent price rose $6 in March, hitting another all-time high of $1,181 according to Yardi Matrix’s Monthly Rent Survey for March 2016. March posted a 5.7% increase in national rent prices compared to the previous year following February’s slight year-over-year increase of only 0.5%. But though March had a significant jump compared to 2015, rents were down …
Downtown project brings 54 more apartments to Chattanooga
{ Full article here } The banging and buzzing of nearby construction and the sound of pouring rain provided the soundtrack Thursday morning for the official opening at The Clemons apartment building at the corner of Chestnut and Eighth streets in downtown Chattanooga. In the 100-year-old brick building’s lobby, guests stood on tiptoes to watch as the project’s owners and …
Chicago company adds 3,600 apartment units in Bham
{Full BBJ Article Here} Chicago-based The Habitat Co. recently added 3,600 apartment units in the Birmingham area to its management portfolio. According to a press release, the multifamily development and management firm said it added 12 rental communities to its national management portfolio. Seven of those properties are in the Birmingham area. The Habitat Co. is a third-party property manager …
Committee Passes Flood Reform Bill in a Big Way
In overwhelmingly bipartisan fashion, the House Financial Services Committee voted 54-0 to support the “Flood Insurance Market Parity and Modernization Act” on March 2. NMHC and NAA have long called for the legislation’s passage to help increase private market competition for flood insurance coverage outside the National Flood Insurance Program (NFIP). That’s because the program is facing financial challenges due to several …
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 …