CRG Announces Leasing Underway at Lakeview Green in Birmingham’s Southside Neighborhood
Mixed-use development with118 apartment units, retail space, and public park will welcome first residents in May
BIRMINGHAM – CRG, the real estate development and investment arm of Chicago-based Clayco, today announced leasing is underway for Lakeview Green, a mixed-use development at 2901 4th Ave. South that includes 118 apartment units, ground-level retail and publicly accessible green space. The new-construction project is the first qualified opportunity zone investment made by Chicago-based Decennial Group, who partnered with CRG to oversee development and leasing activity with Birmingham-based KRE Ventures. Lakeview Green is slated to welcome first move-ins in May.
“We are excited to partner with KRE Ventures to deliver this transformative residential offering in Birmingham,” said J.J. Smith, CRG’s managing partner and residential group leader. “From beautifully landscaped green space, to new retail and entertainment opportunities, to richly detailed apartment homes, Lakeview Green offers a lifestyle experience that complements the excitement and energy of Southside. We are proud to enter the Birmingham market with a project that offers unparalleled comfort and convenience in a live-work-play neighborhood.”
Located on almost 3 acres at the site of the former Davis High School, Lakeview Green will offer a mix of studio, one-, two- and three-bedroom apartments and 27,000 square feet of custom commercial space aimed to attract a variety of retail and restaurants to serve residents and enhance the neighborhood. The site is comprised of two buildings – a five-story building with 103 apartments and ground-floor commercial space, and a two-story building with 15 studio apartments and additional retail space. A publicly accessible green area connects the two buildings.
Apartment features include 10-foot-ceilings and hardwood flooring; spacious kitchens with islands, wine storage and marble countertops; bedrooms with walk-in closets; in-unit laundry; and private balconies. Floor plans range in size from 515 to 2,101 square feet and are priced from $1,300 per month. Residents will enjoy unparalleled views of downtown, the Vulcan statue, the Sloss Furnaces and the University of Alabama at Birmingham.
Lakeview Green’s flagship amenity is the expansive half-acre green space surrounding the property, which boasts a large Koi pond that flows into a meandering manmade stream, complete with waterfalls, landscaping, bridges, winding walking paths, shady groves and abundant seating. Informally known as The Green, the park is open to the public and is the first outdoor space of its kind in Southside.
Additional outdoor resident amenities include a swimming pool overlooking the Koi water feature; a recreational sun deck with fire pits and seating areas; and maintained herb gardens. Residents will also enjoy a fitness center on the main building’s 2nd floor with floor-to-ceiling windows and access to a terrace overlooking the park; an access-controlled rooftop lounge designed for relaxing or remote work; a dog grooming station; and secure bike storage, along with secure and reserved gated and covered parking with electric car charging stations. The site will offer wireless connectivity at speeds of up to 1GB with coverage to include all common areas, including the lobbies, rooftop lounge and outdoor recreation areas.
Lakeview Green ideally positioned to enjoy many of the area’s notable attractions. It is located across the street from James Beard-award-winning restaurant Automatic Seafood by chef Adam Evans; one block from The Pepper Place Farmer’s Market and Pepper Place entertainment, home to another James Beard winner, Hot and Hot Fish Club by Top Chef winner Chris Hastings; 2 blocks from Lakeview Strip restaurants; and within walking distance of many other restaurants, retail and entertainment venues such as the the University of Alabama at Birmingham, the Five Points South entertainment district,and downtown Birmingham employment centers.
Construction was completed by Birmingham-based Stewart/Perry Co. The property will be managed onsite by Engel Realty Co., with SRS Real Estate serving as the commercial broker for the retail space.
Lakeview Green is the second multifamily project announced as part of CRG’s nationwide residential development strategy, which aims to invest $1B in multifamily developments in U.S. markets, particularly in the Sun Belt, with stable rent growth and underserved middle-income multifamily demand. CRG is currently building Broadway Chapter, a five-story multifamily complex, in Fort Worth, Texas. Built in partnership with Clayco’s design-build services, Broadway Chapter is scheduled for delivery this summer.
“Part of CRG’s residential development strategy is to deliver high-quality apartments for carefully selected urban infill sites in high-growth markets, and Lakeview Green perfectly aligns with this plan,” Smith continued. “We believe demand for urban living will remain strong and communities like Lakeview Green that combine residential with retail services, along with easy access to nature and recreation, will flourish.”
Prospective residents can contact the leasing team or view property photos, floor plans and a 3D tour online at www.lakeviewgreen.com, visit the leasing office at 2901 4th Avenue South or follow the development on Facebook, Instagram and Twitter .
CRG is a privately held real estate development firm that has developed more than 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, St. Louis, Southern California, Phoenix and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at www.realcrg.com.
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $3.25 billion in revenue for 2019, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential related building projects. For more information visit claycorp.com.
About Decennial Group
The Decennial Group is an integrated developer-builder investment platform, comprised of a unique team of best-in-class developers, real estate and energy investors, builders, and regulatory experts. Among the first bespoke investment platforms in the Opportunity Zones marketplace, the Decennial Group is focused on scalable, long-term investments that can revitalize neighborhoods throughout the country, with an emphasis on the American Heartland. For more information, please visit the Decennial Group at www.decennialgroup.com.