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Tuscaloosa to Buy Property from Developer

Tuscaloosa to Buy Property from Developer

According to the Tuscaloosa News, Pate recently came to an agreement to sell a portion of Patriot Parkway to the city. The move effectively opens up the north side of the road between Alabama Highway 69 South and Old Greensboro Road to new development. Full Article From Birmingham Business Journal  

FBI may add 4,000 jobs in Alabama

FBI may add 4,000 jobs in Alabama

Huntsville Mayor Tommy Battle has put a number to the planned FBI expansions in Huntsville. Battle late last week said the expansions are projected to create 4,000 new jobs in the area as the FBI looks to relocate its headquarters from the aging Hoover Building in downtown Washington, D.C. Full Article from Birmingham Business Journal

Trump Cheers Exxon Plan to Spend $20B on Gulf Coast Projects

Trump Cheers Exxon Plan to Spend $20B on Gulf Coast Projects

President Donald Trump and Exxon Mobil Corp. exchanged praise for each other on Monday as the company announced plans to create thousands of jobs by spending $20 billion over 10 years on plants along the Gulf Coast. Exxon’s plan started long before Trump entered the White House, however. It includes investments that began in 2013. […]

New Historic Renovation Tax Credit Legislation Introduced

New Historic Renovation Tax Credit Legislation Introduced

Full Birmingham Business Journal Article Here A bill that would reinstate the historic renovation tax credit program has been introduced in the Alabama Legislature. Senate Bill 262, introduced by Sen. Jabo Waggoner, had its first reading on Feb. 28 by the Senate committee on Finance and Taxation Education. The bill is co-sponsored by 29 senators […]

Boeing announces 400 jobs, $70M investment in Huntsville

Full Birmingham Business Journal Article Here Boeing on Tuesday announced plans to add 400 jobs in Huntsville by 2020 on the back of a $70 million investment. The move is the result of ongoing company-wide consolidations among its strategic defense and intelligence system divisions. That effort will close plants El Paso, Texas and Newington, Virginia, […]

Grants sought to fuel 550 new jobs in Montgomery

Grants sought to fuel 550 new jobs in Montgomery

{ Full Article Here } Kettering competes with Georgia, Mexico for Tenneco expansion Four communities applying on behalf of six companies are seeking nearly $1.7 million in Montgomery County development funds to create what the businesses say could total nearly 550 new local jobs. By far the largest request — in terms of job potential […]

Historic Third Avenue North building to be renovated

Historic Third Avenue North building to be renovated

{ Full Birmingham Business Journal Article Here } Plans are moving forward to renovate a historic property in downtown Birmingham into new office spaces. According to REV Birmingham, local business owner Jim Rowland plans to renovate the historic Massey Business College Building at 2024 Third Ave. N.\ It is a three-story, 21,000-square-foot building, and was […]

Birmingham’s Southside skyline set for game-changing high-rise

Birmingham’s Southside skyline set for game-changing high-rise

{ Full Alabama Newscenter Article Here } One of Birmingham’s largest announced apartment projects is about to get underway. Harbert Realty Services recently announced that Birmingham-based BL Harbert International will build the Vesta apartment development at Highland Avenue and 14th Avenue South, overlooking the Five Points South area on the Southside. “We’re basically ready to go,” said Harbert […]

Freddie Mac: The Top Markets of 2017

Freddie Mac: The Top Markets of 2017

Freddie Mac provided its mid-year outlook today, and sees a moderating but bright multifamily market ahead. Following its second-quarter earnings report, the government-sponsored enterprise says it has processed about $27 billion in mortgage purchases so far this year. “And that puts us on pace to be around between $50 billion to $55 billion,” for the […]

Margaritaville Resort kicks off flurry of development in Biloxi

Margaritaville Resort kicks off flurry of development in Biloxi

{ View Full Sun Herald Article Here } BILOXI Developers and city officials raised giant margarita glasses and toasted the opening of Margaritaville Resort Biloxi in June, and more celebrations and ribbon-cuttings are on the way. Eleven years after Hurricane Katrina flattened many of the houses in East Biloxi and along U.S. 90, several new […]

Morgan Stanley Knows Why the Rent Is Too Darn High

Morgan Stanley Knows Why the Rent Is Too Darn High

{ Full Bloomberg Article Here } Apartment prices prove most linked to jobs growth in the U.S. Greedy landlords or just plain jobs growth? A new Morgan Stanley analysis sheds some pictorial light on America’s rising rents. Home ownership rates in the U.S. have plummeted to a near five-decade low in the aftermath of the […]

Rock Apartment Advisors Closes $40M in Sales in AL

Rock Apartment Advisors Closes $40M in Sales in AL

{ Full Multi Housing News Article Here } The brokerage firm facilitated the sale of two multifamily properties that marked the first acquisitions for the buyers in Huntsville and Auburn, Ala. Birmingham, Ala.—Multifamily commercial brokerage firm Rock Apartment Advisors has closed two apartment deals in its home state of Alabama totaling $40.7 million. The first transaction […]

Auto supplier picks Alabama for $37.9M investment, new jobs

{ Full BBJ Article Here } A German auto supplier will establish its first North American facility in Montgomery, which is expected to create 235 jobs. Made in Alabama reports today that Gerhardi Kuntstofftechnik held a groundbreaking ceremony Tuesday to announce its plan to invest $37.9 million in a new facility. “This is a great […]

Yulista Aviation expansion could create up to 200 jobs

Yulista Aviation expansion could create up to 200 jobs

{ Full Birmingham Business Journal Article Here } Yulista Aviation could be expanding its workforce in Huntsville by as many as 200 employees. The company, which announced plans last month to bring a new hangar and support facility to the Huntsville Executive Airport, broke ground on the $13.5 million expansion last week. The expansion will […]

Tuscaloosa plant expanding

{ Full Birmingham Business Journal Article Here } Michelin North America last week announced plans for an $8 million expansion at its BFGoodrich plant in Tuscaloosa. The 29,000-square-foot facility, which has been operating for more than 70 years, is set to see a 215 percent increase in space available with the construction of the additional […]

Yardi: Rents Hit All-Time High in June

Yardi: Rents Hit All-Time High in June

{ Full Multifamily Executive Article Here } For the third straight month, U.S. apartment rents saw double-digit gains, according to Yardi Matrix’s monthly survey of 119 markets. This time, rents rose $10, or 0.9%, in June, to an all-time high of $1,213. In the second quarter, rents climbed 2.7% and 5.6% year over year. But […]