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    Alabama Real Estate Market Trends: Development Remains Strong

    Development Updates in Alabama:

    As housing demand remains at an all-time high across the US, local real estate developers are doing their best to address the unmet needs of Alabama's homeowners, renters, and residents. Here's a look into the residential and mixed-use projects in the works.

    New Apartments to be Developed in Chesterfield County 

    Birmingham-based real estate investment firm, Pivotal Residential, is planning a 324-unit project at 1145 Old Bon Air Road. The firm seeks to rezone 31 wooded acres in Chesterfield to allow for the apartment complex, which will include a co-working space, gym, pool, surrounding nature trails, outdoor kitchens, and surface parking spaces.

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    Major Mixed-Use Project in the Parkside Area

    The Birmingham-headquartered residential development firm Novu Development Group has received government incentives for a large mixed-use development project in the Parkside Area. The project, tentatively named The Silos, includes a five-story multifamily residential building and retail complex. 

    The project's residential portion will include approximately 315 apartment units, a clubhouse, fitness center, saltwater pool, co-working space, sky lounge, two outdoor social lawns, and a parking deck with approximately 400 parking spaces. The retail complex will support the employment of local UAB students and residents, creating a myriad of new full- and part-time employment opportunities in the area.

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    Tag(s): Alabama Digest

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