A 50-year-old residential apartment building near Five Points South is getting a $40 million renovation.
Birmingham Building Trades Towers is being converted into studio and one-bedroom apartments.
Restoration Capital Partners is the owner of the 12-story building. LMS Real Estate Investment Management is providing construction management and property management services for the project. Robins & Morton, which originally handled construction for the building, is the general contractor. Hendon & Huckstein Architects designed the updates.
The project is expected to be completed in 2022. The Birmingham Building and Construction Trades Council, a coalition of labor unions, built the 12-story high rise in 1967 with a loan from the U.S. Department of Housing and Urban Development as affordable housing for seniors. It closed following a fire in 2015.
The 144,000-square-foot building at 10th Avenue and 20th Street South will house 242 apartments and feature a gym with on-demand training, a billiards area, app-based security for both the building and the parking deck, and Starbucks coffee in the lobby. The apartments will also have granite countertops and a washer and dryer system.
“Five Points South is a rapidly growing part of Birmingham but lacks reasonably priced housing options for young professionals,” Senior Vice President at LMS Real Estate Investment Management Stuart Gohd said. “We believe that these new apartments will help fill that gap and will contribute to the flourishing downtown real estate market.”
Robins & Morton Commercial Division Manger David Green said the project brings the company full circle.
“Performing the construction of the original building in the ’70s and then giving it new life by next year is a unique opportunity,” Green said.