City approves sale of land for new housing development
Birmingham, AL — Birmingham City Council, together with Birmingham Mayor Randall L. Woodfin, today approved an ordinance authorizing the sale and development of real estate with Green Meadow Apartments, LLC. The development team is all African American, including the general contractor. At over $2 billion to date, it is the largest African-American-led deal in the city’s history.
“It’s a great day for the City of Birmingham,” said Mayor Woodfin. “Not just because of the jobs, the homes and the economic impact, but because of the history that is being made.”
The City sold approximately 222 acres of land near Lakeshore Parkway at 1911 Tiger Walk to Green Meadow Apartments for a purchase price of $1.5 million. Green Meadow Apartments will undertake a multi-phase project involving the development of single-family, multi-family and seniors housing which will include approximately 900 residents and a commercial town centre. This project is led by CEO Michael German, who is the former Alabama representative for HUD.
Preliminary studies by Green Meadows suggest this will generate 240 permanent jobs and another 2,000 construction jobs. The total investment in this project will be $100 million. The project includes a town center with a grocery store and commercial and office spaces. This will generate $500,000 in property taxes in the first three years.
“We would like to thank the mayor and council for their support in this transformational project,” said Cornell Wesley, director of the Department of Innovation and Economic Opportunity. “It sends a message across the country that African-American and minority developers have a place in Birmingham, and we are aggressive and intentional in supporting their efforts.”