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Well Ladies and Gentlemen,
Due to the recent economy, suffice to say, there hasn't been much to post on this blog.
So, I'd like your help. If you know of any developments in your area, please email me (alephew at gmail.com) so you can share the good news with everyone! Now since there is much un-development happening, let's report on that as well.
When I created this blog (my first), I did it to help out my previous employers (condo developers) find localized information. This was to aide them in making purchasing decisions, as well as create bank packages to apply for mezzanine funding. My first blog has stretched it's legs since then.
Let's pool our resources to help those who still want to open business in our communities. Anything that you think will help others succeed, or save them from making a poor choice, send it! Pictures, stories, articles, you send it, we'll post it, and of course provide the source (unless anonymity is requested).
Email alephew at gmail.com
Photographer: Unknown
Lack of Development
Builders start on The Yacht Club project at Lake Logan Martin
Birmingham Business Journal - by Lauren B. Cooper Staff
Construction has begun at a new 509-home community on Lake Logan Martin.
Atlanta's Waterside Properties LLC recently broke ground on The Yacht Club, which will be situated on 215 acres on Lake Logan Martin east of Birmingham.
Plans call for executive and estate custom homes, town homes and waterfront condominiums, as well as a commercial center with a marina, restaurant, chapel, business center and private club, said a news release.
The first phase of the development will include the business center, a model home, a pool with a water park, activity lawns and trails along the property's 4,000-foot shoreline.
Preconstruction pricing starts in the high $200,000s and goes to more than $900,000.
Builders to begin $13M expansion of downtown parking deck
Birmingham Business Journal - by Lauren B. Cooper Staff
Construction is slated to begin Wednesday on the $13 million expansion of the parking deck adjacent to the proposed Marriott Renaissance Hotel in downtown Birmingham.
The expansion will double the deck's capacity by adding 700 more public parking spaces.
It also will include reconfigured entrances and exits for better traffic flow, a new facade and installation of state-of-the-art payment and monitoring systems, a news release said.
The deck will serve the proposed hotel and surrounding businesses, shops and restaurants.
"Adequate parking availability is absolutely essential to the long-term growth of downtown," said Michael Calvert, president of Operation New Birmingham, in the release. "Developers, Realtors and building managers have had difficulty attracting additional businesses due to limited parking in the financial district for some time. This larger, more efficient facility will help attract new businesses and, as importantly, assist in ONB's efforts to retain those that might be tempted by suburban office parks with surface parking."
A celebration will be held Wednesday morning marking the start of construction with Birmingham Mayor Larry Langford, the Birmingham Parking Authority and Operation New Birmingham at the offices of law firm Adams and Reese LLP, across the street from the deck.
The expansion was designed by Birmingham's Williams Blackstock Architects.
Daniel Corp. completes first phase of $540M project in south Alabama
Birmingham Business Journal - by Lauren B. Cooper Staff
The first phase of a $540 million residential project in south Alabama that Birmingham's Daniel Corp. and Retirement Systems of Alabama partnered on is now complete.
Bayview at Colony at the Grand, near The Grand Hotel in Point Clear, opened recently as the first residential component in the development.
Prices for the Bayview condos range from $750,000 to $1.3 million. Six of the units were presold. Work on a clubhouse for the development is underway.
According to a news article in the Mobile Press Register this week, the building has 56 condominium units overlooking a 22-acre lake and were designed by Goodwyn Mills and Cawood. Plans call for more than 600 residential units in the 175-acre development.
The units also overlook several holes of the Lakewood golf course at the Grand Hotel, which is owned by the Retirement Systems of Alabama.
Developers plan $35 million project on Lake Tuscaloosa
Birmingham Business Journal - by Lauren B. Cooper Staff
Lake Tuscaloosa is slated to get one of its first gated communities in a $35 million development on the coveted lake near the University of Alabama.
B.G. Development Group Inc. plans to develop Legacy Point, a 55-cottage community on 55 acres of the lake, and market the property to Tuscaloosa residents and those who frequent events at the university.
The project is unique, said developer Danny Despot of Birmingham, because of the limited availability of land and homes for sale on the nearly 6,000-acre lake. A five-year quest for property on the lake finally landed him the purchase of the formerly family-owned parcel, he said.
Cindy Harding said the inventory of homes for sale on the lake is in short supply. Harding is an agent at Tuscaloosa's Hamner Real Estate Inc. and said currently there are 21 homes for sale on the lake.
