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Downtown Residential Projects


Southron

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Downtown living is catching on in Montgomery. The city is currently ten years or more behind Birmingham and Mobile when it comes to downtown residential developments, but the success of current projects should lead to many more down the road.

Mixed-used renovation complete:

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Mixed-use renovation underway:

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Local real estate developers and managers see a boom market for loft living in the next few years. All 22 of the units on N. Court St. are filled, and 9 of the 16 new units at the A&P lofts in Old Cloverdale are taken. After the new civic center and the Renaissance Hotel open in early 2008, developers expect demand to really pick up. Thirty units are expected to be developed across from City Hall within the next 18 months.

Montgomery area lofts currently rent for between $800-2,000, and sell for between $210,000-625,000. Square footage ranges from 800 sq ft to about 2,500 sq ft.

Montgomery Advertiser: Lofty aspirations

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The Central Alabama Business Journal ran a story about Byron Berry, a young developer doing mixed-use renovations of downtown buildings. Berry recently renovated a couple of buildings on South Court Street (pictured in this thread) into retail space and residential units. Rents on the lofts range from $1,200 to $2,000 per month, and purchase prices from $225,000 to $390,000.

Berry's next project is to renovate some historic buildings on South Perry Street into commercial and residential units. Keep up the good work, Byron!

Contractor is a catalyst for change

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This month's print edition of FUTURE Montgomery includes an article by Chad Emerson about some downtown mixed-use and residential projects.

Josh Mandel is renovating part of the old Montgomery Fair department store building at 28 Monroe St. into 14 650-900 sq ft apartments and street-level commercial space. The Lofts at Montgomery Fair are expected to begin pre-leasing this month, and to be completed by late summer.

Mandel is currently working on the left third of the building (pictured below). He plans to develop 22 Monroe St. (I think that's the rest of the Montgomery Fair bldg.) into one and two bedroom condos from 1,000 to 1,600 square feet. 22 Monroe will include on-site parking and retail space at street level.

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Byron Berry is renovating three historic buildings on S. Perry that were originally going to be demolished to make way for the new Washington Ave parking deck. One building is already sold as a 2,600 sq ft residence, and the other two buildings will be mixed-use or residential.

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The 14 one-bedroom rental units at Montgomery Fair Lofts will be ready for the first residents in about a month. Developer Josh Mandell says that eight or nine of the units are already rented. 22 Monroe Condos, with six one-bedroom and three two-bedroom units, will open next door a few weeks after Montgomery Fair.

Montgomery Advertiser: Long-vacant downtown buildings get new lives as loft sites

Photo Gallery: Montgomery Fair renovation

Monroe St. facade 7/5/08

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S. Perry Street projects

This building on S. Perry St. is being renovated for residential use on both floors. It's in the same block with the three buildings (pictured below) that Byron Berry is renovating. I think at least one of Berry's buildings is to be all residential, with all of them including residential space.

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Byron Berry's buildings:

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A $20 million downtown residential project was announced recently in Montgomery. The 220-unit infill project will cover an entire block that is currently used for parking. If successful, the developers will build a mixed-use development across the street.

Great to see this kind of infill for downtown. The apartments will be within easy walking distance of the baseball stadium, riverfront, and the Alley.

$20 million apartment complex coming to downtown Montgomery

New residential development coming to downtown

Downtown may get apartment complex

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There's a drawing posted in front of 26 S Perry now. Apparently the ground floor will be storage for New South Books, a book publisher a block away, and the second floor will be residential. Interestingly, a future third floor addition may add more residential space.

Early May photo with drawing below

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The other one is getting a balcony.

Early May

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Late May

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Birmingham-based StoneRiver Company plans to break ground this summer on Maxwell Bluff Apartments, a 165-unit, four-story apartment complex on Maxwell Blvd across from Wright Brothers Park. The project is set for completion by the second quarter of 2015.

 

One and two-bedroom units ($1,000-$1,400 rents) will feature hardwood floors, granite countertops and high-end appliances. The apartment complex will have a fitness center, a pool and parking behind the complex. The developers are including three Clay Street historic homes in the project.

 

 

Link:  165-unit, four-story Maxwell Bluff Apartments

 

 

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