Quote:
Originally Posted by Bamablazer
With all the new apartments and condo development going on downtown and southside, some local expert real estate developers are wondering if some of the new developments will ever get off the ground, an article in the Birmingham Business Journal stated they think the developments that are farther out from UAB, Regions and Rail Road Park, it may be harder for them to lease out. I would love to see all of them come to reality and do well. But you have to wonder if those experts have a point.
But I like to think that they all will do well regardless of where they are.
|
I read that article as well. I think it's definitely important to keep in mind when considering all of this activity. However, I don't know if I agree completely. For one thing, real estate has always been developed conservatively in Birmingham (the entire state, for that matter). I think that might be changing a little bit in regards to downtown Birmingham, but I think it is still holding true generally.
As far as I can tell, none of the announced projects are located unreasonably far from destination locations. The Lakeview projects are all located within easy walking distance of entertainment and food. Then Parkside, as we know is an easily enjoyable neighborhood to live in and is close to virtually everything a resident needs (except grocery which should change soon).
Cityville is pretty much too far from all of the amenities, which is why its sidewalks always seem so dead. People drive home and take the elevator, they don't even have to really walk outside. However, with the Rotary Trail coming along, that will change quickly.
It's an issue you shouldn't take lightly, but as it is I don't think we've gotten to a point that it's a problem.