Commercial real estate: more historic revitalization, new UAB buildings

It is not an unusual sight to see old warehouses and industrial buildings being brought back to life around Birmingham…or brand new buildings going up.

Many projects are in the works. Sometimes so much development is happening that it is hard to report before another revitalization project pops up. The same can be said for the growth and building plans of UAB, our area’s largest employer.

A few new industrial site renovations that are interesting

The old Continental Gin campus in Avondale was built in 1925 to manufacture cotton gins. Today Cahaba Brewery and the Southern Vintage Fire Apparatus Association call the former industrial space home. Ram Tool is headquartered on the campus.

Recently, RAM Tool invited developers to a session designed to figure out ways to use the remaining space. The soaring ceilings, original brick walls, and steel framing are all highly desired design features today.

According to a recent RevBirmingham article, enthusiasm was high for further development and revitalization of this emerging area between Avondale and Crestwood.

Family Services & Laundry

Another seemingly nondescript, old, industrial style building is getting some attention. The Family Services & Laundry Building has caught the attention of Mike Mouron, of Capstone Realty.

The new space will be called 2200 Magnolia. Mouron received a 2018 Alabama Historic Rehabilitation Tax Credit allocation of almost $1.67 million. About 60% of the space will be the home of sister companies, Retail Specialists and Retail Strategies. That leaves 12,000 square feet of space yet to be claimed.

New construction of UAB student residences and new dining hall

We have reported on the explosive growth of UAB construction planned for 2018 and beyond.

Ongoing projects include new buildings for the Collat School of Business, the College of Arts and Sciences, and the increase of floors to the School of Nursing.

As a part of UAB’s new master plan developed several years ago, if the University of Alabama Board of Trustees approves, there will be construction of a new dorm and dining hall on the Southside. The new building will be between 16th and 17th Streets S, next door to the newest residence hall completed in 2016.

The 29,000 square-foot building will cost $60 million. It will provide housing for 720 students and dining space for 300 at a time.

The size of the student body of UAB has increased every year for the last five. By the projected completion date of the residence/dining space in 2021, the expected student population of UAB will be 24,000.

UAB Health Systems is moving into Stadium Trace Village in Hoover

As we reported several months ago, Broad Metro is developing Stadium Trace Village, a mixed-use development with retail, restaurants, a hotel and grocery store off Alabama 150 and Stadium Trace Parkway at Interstate 459.

The UAB Health System plans a new 9,000 square-foot medical office in Hoover’s Stadium Trace Village. The facility will be home to a variety of medical services, including primary care, oral surgery, OB/GYN services and other specialties.

And sometimes industrial buildings are just that…industrial

 The 160,000 square-foot former Kemp’s warehouse at 325 Finley Blvd has been sold to BNSF Railways for $1,975,000. Graham & Company brokered the deal. The buyer purchased the property to expand their next-door operation.

Keep your eyes on the skyline, the cranes dotting the city and on Bham Now. We will report back on new and interesting real estate developments.