Despite the COVID-19 pandemic, Chicago-based developer Next Chapter Properties, is taking the lead in the development of student housing near the UAB campus in Birmingham, AL. The seven-story, 169-unit complex will be built on a brownfield property requiring $1.5 million in environmental remediation. Completion is planned in time for the fall 2022 semester.
The Birmingham City Council voted Tuesday to approve economic incentives for a new student housing development near the UAB campus, and Jefferson County commissioners indicated they would do the same Thursday. The seven-story development, which is expected to house up to 400 residents, will be built atop a brownfield site bordered by 13th and 14th Streets South and Fourth and Fifth Avenues South. Next Chapter Properties, the Chicago-based real estate developer spearheading the project, asked the city, county and state to abate non-education property taxes and some sales taxes for the project. Representatives of the company said these tax breaks would offset $1.5 million in environmental cleanup and mitigation costs, which will include the removal of four feet of contaminated soil from the property.
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