Bradley attorney Trey Hill was quoted in the Birmingham Business Journal on the incentives for a $55 million student housing complex in Birmingham's Parkside District. Jefferson County Commission is set to consider an abatement of noneducational ad valorem taxes for the project – about $578,139 would be attributable to the county. Tax abatements for the project would total 10 years from the state, four years from the county and three years from the city, according to information from Jefferson County.
Hill, who is representing the developers, said the incentives are critical for the project, due in large part to the anticipated costs of brownfield remediation at the site. A portion of the property was previously a coal yard and commercial printing facility, while a yet-to-be-acquired property for the project was a service station and auto repair facility.
Hill added the developer has said it couldn't move forward on the project without the incentives. It will cost approximately $1.5 million for environmental mitigation at the site.
Hill said construction on the project could begin by the end of 2020 or the beginning of 2021, with plans to be ready for the 2022 school year at UAB.
The original article, "Bham OKs Incentives for $55M Project, JeffCo to Vote on Thursday," appeared in the Birmingham Business Journal on August 4, 2020.