Reviewed by: Pat Byington
Liberty Towers at Midtown listed for sale in Birmingham
Liberty Towers at Midtown—formerly known as the Liberty National Building—has been listed for sale by owner Liberty Redemption LLC. Read on to learn more about the history of the building and what the future could hold for the Liberty Towers at Midtown.
One of Birmingham’s oldest office towers
According to the owners, the original 10-story structure was developed in 1925 and designed by Birmingham architecture firm Warren, Knight & Davis. After completion, the Liberty National Life Insurance Company purchased the building in 1931 to use as the company’s headquarters, dubbed the Liberty National Building.
Over the years, Liberty National continued to add to the building’s footprint. A six-story addition to the original tower was completed in 1952, and in 1971 a massive 16-story addition was completed, completely overshadowing the original structure.
In 1958, a 1/5th-scale bronze replica of the Statue of Liberty was placed on a pedestal on the top of the original building. The statue kept a watchful gaze over The Magic City for decades until the 1980s, when it was relocated to the entrance of the new Liberty Park residential and mixed-use subdivision in Vestavia Hills.
In 2010, Liberty National moved its Birmingham office—and 225 employees—to the 100 Concourse building in Hoover.
New hope for the Liberty National Building
In 2017, current owner William Rose redeemed the building out of foreclosure under Liberty Redemption LLC.
“The downside to redeeming a building out of foreclosure is you don’t have any right to go look at it before you buy it. When we bought it, the building wasn’t perfect—but we could tell that it had great bones. We decided to take it back to a blank canvas, doing what I called, ‘cosmetic demo.'”
William Rose, Owner, Liberty Redemption LLC
Over the following years, Liberty Redemption LLC began pulling out drop ceilings, old wiring, old pipes and other parts that were no longer viable. The demo was designed to take out anything that wouldn’t be used moving forward.
“In my opinion, a building like Liberty is the best of both worlds, from an environmental standpoint. The steel, concrete and brick were all made many, many years ago, so now you have a structure that has virtually zero environmental output. Now, the next owner can put in state-of-the-art air conditioning, ventilation and other things.”
William Rose, Owner, Liberty Redemption LLC
In addition, the new owners renamed the building to the Liberty Towers at Midtown, paying homage to the rapidly-growing Midtown district.
Listed on the market
Although William Rose had initially planned to develop the building himself, he decided to put the Liberty Towers at Midtown on the market. Mr. Rose worked with W. Dean Nix and Harbert Realty Services to list the building.
“I had known Dean and Harbert Realty Services for a long time, and although we interviewed a lot of brokers, we felt that Harbert Realty Services had the strongest connection to Birmingham and to the Liberty Towers at Midtown. We really wanted a brokerage firm that cared about Birmingham, as opposed to an out-of-town company that would look at this as just another listing.”
William Rose, Owner, Liberty Redemption LLC
What could be next for Liberty Towers at Midtown?
Now that the Liberty Towers at Midtown is on the market, the number one question is—what’s next?
“Liberty is well made and it’s in a great location. It could easily function as a variety of things. Multifamily, affordable housing, student housing and even retail and entertainment on the lower floors are all viable options. We think Liberty is a great opportunity for whatever the market will allow.”
William Rose, Owner, Liberty Redemption LLC
As a historic structure, the Liberty Towers at Midtown may qualify for both state and federal historic tax credits—plus, it’s located in an Opportunity Zone. In addition, the building is adjacent to the University of Alabama Birmingham (UAB) and directly across the street from the 20 Midtown mixed-use developments, with hundreds of luxury apartments as well as several retailers and restaurants.
“When I’m analyzing the Liberty Towers at Midtown, I look at three things. Number one, the condition of the building. It’s built so well, it’s basically a bomb shelter. Number two, location. Well, it’s located in Birmingham, a fantastic Southern city. Finally, number three, what’s going on around it? The 20 Midtown development is right across the street, and UAB is getting closer every day.”
William Rose, Owner, Liberty Redemption LLC
Click here to learn more about the Liberty Towers at Midtown or contact Harbert Realty Services at 205.323.2020
What do you want to see the Liberty Towers at Midtown redeveloped as? Tag us @bhamnow to let us know!
