It seemed like an easy enough assignment. I stopped by to visit my friends at Operation New Birmingham (ONB), asking them to provide me a list of all the residential loft developments they knew about. I was overwhelmed by the sheer number of loft and condominium projects underway in the City Center and the Southside. And everyday, it seemed, came another announcement about yet another loft development in one of the old historic buildings, or even a brand new residential loft or condominium project. On top of that, I stumbled upon a few other smaller loft condo developments that even ONB didn’t know about.
“Holy condos!” I thought. “How in the world am I going to get all this information in one magazine issue?”
For one thing, I had to break up all this information into three main stories (it was just too much for my poor brain to write one). There was no way to write something on every loft development underway or planned for Downtown, not even in three stories. So, some projects are listed. It’s not comprehensive, since others are being planned even as I write this. Check our website for updated information. The rest will have to wait for a future issue.
Most of these developments you’ve probably already heard about, so this issue isn’t breaking new ground. Rather, it provides a clearer perspective on what’s happening in Downtown Birmingham. This urban living trend isn’t a blip or momentary fad. No, this is something that’s real and here to stay. That people are pulling out large cash wads to own their chunk of Downtown real estate is proof of that. These projects are drops in the bucket compared to the booming growth and development in the suburbs. But at a time when U.S. Census figures show that Birmingham is losing population, it’s refreshing to see such amazing activity in an area many suburbanites dismiss as dangerous and dead. ONB has predicted that 2,500 additional residential units will arise in the City Center by 2009. With more than 2,100 units existing or firmly committed to be built in the next few years, I think ONB can be fairly confident that it won’t have egg on its face.
In five years, developers will have invested more than $375 million in new residential developments in the City Center, by ONB calculations. That figure doesn’t include the future economic impact of retail developments that will inevitably come to serve this growing Downtown customer base. All this will provide much-needed tax infusions that will benefit the entire City, and ultimately, the entire region. So let’s celebrate all the changes going on Downtown. It truly helps us all.
