Task: This story comments on the green light given to build on their commercial plans for the property. This property was important to the community along Red Mountain Expressway because it would create mixed-income housing allowing for the implementation of a new community with a variety of retailers and a biomedical sector.
Companies working to create a mixed-use, mixed-income development on the former site of the Southtown Court public housing community have been given the green light on their commercial plans for the property.
A ground lease approved this week allows Southside Development Company to move forward with construction in the blocks between 24th Street and the Red Mountain Expressway.
The development initially began in April 2023 with the site’s affordable residential components. This week’s approval allows them to move forward with the commercial plans.
“Our vision is to build on current assets in the community, including key medical and research institutions,” CEO of Corporate Realty Robert Simon said. “The lease is the first step in bringing to life a vibrant, multi-dimensional community that not only offers inclusive housing but also includes places to work, shop, eat, relax and play.”
The Housing Authority of the Birmingham District will continue to own the property, while private developers will have a long-term ground lease to develop the site.
The new master planned development will be called Edgehill at Southtown Court.
The site will feature multiple buildings for both commercial and residential use, as well as 50,000 square feet of retail and restaurant space, a 150-200 room hotel and approximately 250 apartment units.
A 150,000-square-foot building on University Boulevard and 24th Street will be home to an incubator for biotech businesses accompanied with infrastructure including roads, utilities and parking.
This is the first step in developing the Birmingham Biomedical Innovation Corridor, a product of new legislation allowing authorized cities to create research and development corridors.
The site calls for 800,000 square feet of commercial space for the biomedical innovation corridor, half of which would be devoted to research and development and the remaining space for innovation partners and medical office.
“From the beginning, we have been adamant in working with Southside Development Company to ensure all components of the Southtown Court redevelopment support out mission of creating vibrant, inclusive communities, and we are confident that the commercial plans for Edgehill at South Court will support the improved quality of life of those who will reside in the community’s affordable housing,” HAB President and CEO Dontrelle Young Foster said.
Construction is underway at two residential complexes west of 24th Street to serve the Southtown Court public housing community residents. Birmingham-based firm BREC Development plans to have the 60-unit family building open by fall, while the Benoit Group expects to complete its 143-unit senior building in March 2025.
Stirling Properties is the leasing agent for the commercial development.
“Bringing this density of office and medical along with residential and hospitality will create an 18-hour businesses day and capture the patronage of the immediate trade area as well as creating a destination for the greater region,” Stirling Properties Senior Advisor Darryl Bonner said.
コメント