Major mixed-use project on tap for Parkside
A team that includes companies from Birmingham, New York City and San Francisco plans to transform a half-block across from Railroad Park on First Avenue South into 250,000 square feet of hospitality, residential and commercial space.
The project will include a 140-room boutique hotel, cultural and event space, residential units for sale and retail and studio spaces on the ground floor. The team behind the project includes Birmingham native and New York venture capitalist Jared Weinstein, Grant Brigham and Tommy Brigham of ARC Realty. Amanda Loper of San Francisco-based David Baker Architects is the lead architect. Birmingham-based BL Harbert International is the contractor. Co-development partners are also located in New York City and California.
“Birmingham is on the path to becoming a 21st century success story, and Railroad Park is an early symbol of that success,” Weinstein said. “We’re excited to assemble a team that will bring a top-tier project to the Parkside District and play a part in downtown Birmingham’s continued growth.”
The project will be located on the southern entrance of Railroad Park on First Avenue South between LIV Parkside and Regions Field. As we previously reported, Parkside District Ventures LLC purchased the property in 2016 for $3.7 million.
The site is currently home to warehouses.
Brigham said Parkside is shaping up to be a true urban village, and the development team believes there’s a place in the market for a boutique hotel and residential units for sale.
He said the development presents an opportunity to build off something like Railroad Park that has brought people together in the community.
Brigham said a hotel flag has been secured, but could not be disclosed at this time.
Pre-sales of the residential units are slated to begin this summer. Developers are planning to utilize the Opportunity Zones program in conjunction with the project. The program has already proven to be a driver of deals and development in Birmingham’s urban core, which is entirely within an Opportunity Zone.
The team is also planning to work with local organizations to create a hospitality workforce development program as part of the project.
As we noted in a recent Cover Story, Parkside is currently experiencing a new wave of development that will bring more than 1,200 new residential units – the bulk being apartments – to the growing neighborhood.
A number of those projects are mixed-use developments, but it also includes expansions at Children’s of Alabama and Red Mountain Theatre Co.’s planned $25 million arts campus.
