LIV Parkside $30 million apartment and retail project starts construction in Birmingham
BIRMINGHAM, Alabama – The $30 million LIV Parkside across from Birmingham Railroad Park will move from the drawing board to reality Monday when it becomes the first of the announced apartment developments in the area to break ground.
The six-story LIV Parkside is being built across First Avenue South from the $19 million Railroad Park between 17th Street and 18th Street. In addition to the 228 apartments the project will have close to 3,000 feet of retail space at the ground level. The project will be built atop a two-level, 290-space parking deck.
A groundbreaking ceremony is slated for 3:30 p.m. Monday at the site of the future development. The project is expected to be completed in the first quarter of 2015.
Robb Crumpton, president of LIV Development, said the project has been in the works since July 2013 and he is pleased to start construction.
“It feels great, especially to be in our own backyard in Birmingham and to be part of the downtown renaissance,” Crumpton said in an interview.
LIV Development is based in Birmingham and has apartment projects in Tennessee, Florida, Arkansas, South Carolina and other states as well as in Huntsville and Birmingham.
Crumpton said LIV Parkside would not be happening if not for the momentum being created in the area by Railroad Park and the new $64 million Regions Field baseball park.
“If it had not been for the baseball field and Railroad Park, we would not be there,” Crumpton said. “The city is about to see the return for all they have invested down there.”
Birmingham Mayor William Bell said the city knew “if you build it, they will come” was the right strategy for what is now being termed the “Parkside” area.
“We’ve said all along with the development of Railroad Park and Regions Field that they would become economic drivers for the city,” Bell said in an interview. “What you are seeing with LIV Parkside and what you will soon see along First Avenue North are the fruits of that labor.”
While LIV Parkside is the first project to start construction, other major apartment developments have been announced in the Parkside area.
Watts Realty has its own $30 million project, the six-story L&N Parkside, which is slated to have 129 apartments and 12,000 square feet of retail space along with a 200-space parking deck. L&N Parkside would front Fourth Avenue South and 16th Street while the deck would extend along 16th Street to Third Avenue South. The project has won initial design approval and is pursuing financing.
Just last week, the six-story Venue at the Ballpark apartments won design approval for a project that is planned for the corner of Third Avenue South and 16th Street in the same combined two-block area created by Regions Field’s development. It would add another 236 apartments just beyond centerfield of the ballpark and next door to the planned Negro Southern League Museum.
Brian Wolfe, director of development with Corporate Realty, said the people who will fill those apartments will also become a strong draw for more restaurant, retail and entertainment development in Parkside.
“The residential development needs to be there to bring the retail development,” Wolfe said. “You’re going to see a tipping point where stores and restaurants determine they have to be there because of the residents.”
Regions Bank contributed to the development of both the Railroad Park and the baseball park and Crumpton said the company was not hesitant to finance LIV Parkside.
“They got behind our project and supported it from day one,” he said. “They obviously see value and opportunity in the area.”
David Fleming, chief executive of REV Birmingham, said others are seeing value and opportunity in the Parkside area.
“I’m so thrilled to see what has been a long-planned development move towards reality,” Fleming said. “LIV Parkside coming and with others to follow in the Parkside area, it contributes to the vitality of that area and to all of downtown. This is what we thought and hoped would happen with the development of Railroad Park.”
Pricing for the apartments is still being finalized, but Crumpton said they are expected to be on the upper end of the market with finishes and elements that appeal to young professionals, UAB graduate students, nurses at UAB and the like.
program management and right-of-way acquisitions. The company supports both public and private sector at all stages of development.
- By AL.com