Birmingham’s CrossPlex Village received $9 million to start construction. See how this development will improve Five Points!
CrossPlex Village Funding
TruFund Financial Services’ Empowerment Reinvestment Fund awarded CrossPlex Village $9 million recently.
Construction broke ground in January and this funding will help continue the development.
New Market Tax Credit funding has played a significant role in helping the CrossPlex Village begin construction. This federal tax credit spurs business and real estate investment in low-income communities.
Tenants and Development
Birmingham’s CrossPlex has 750,000 sq. feet of Track & Field, Volleyball, Gymnastics, and Swimming facilities for athletes to use for competition.
This amazing facility will now also include CrossPlex Village, a 38-acre development adjacent to the Crossplex campus. For visitors who come to see sporting events at the CrossPlex, the Village will provide them with places to eat and stay.
Tenants will include a Comfort Inn & Suites, a Starbucks, Walgreens, Ninja’s Japanese Steakhouse, Cici’s Pizza, Yogurt Street, Habaneros Mexican restaurant, and Lin Garden.
Phase one of construction is currently building Starbucks and the Comfort Inn & Suites. Each of these will be offering programs giving students from the community paid training and experience.
This development will definitely have a positive impact on the Five Points area. It will create at least 140 jobs, mostly for people from the community, and will bring alot of revitalization to local businesses.
We are so excited to see how this development continues to shape our city!
What do you think of the new CrossPlex development? Let us know!