Hitting the "Magic City": Redmont Park
Birmingham Business Journal
Evan Watts of D&A Cos. is partnering with David Silverstein of Birmingham-based FiveStone Group on a mixed-use project in the Redmont Park neighborhood that features boutique hotel and condominium buildings as well as a spa and wellness concept.
“We have, for the longest time, felt like there was going to be an opportunity to do a really first-class development on what is a terrific location,” said Silverstein, a former principal at Bayer Properties. “We believe there is still an opportunity to bring to our market and to this location, particularly, a really nice hotel to serve the area.”
The project could consist of a new 10-story hotel, a 10-story condominium building with about 25 to 30 units that will go up for sale, and about 20,000 to 25,000 square feet of commercial space. The boutique hotel would be about 115,000 to 120,000 square feet and add between 125 to 150 new rooms to the city. The condo building would be about 65,000 square feet. Some single-family townhomes may also be included in the development.
“We’re referring to both buildings as boutique, because they’re small, they’re intimate, they’re not large,” Watts said. “We’re not building a 19-story building. We’re trying to achieve something that’s much lower in scale. It’s contextual; it’s tied in well to the fabric of the neighborhood and really uses that to its benefit, in its favor.”
“It’s a growing and culturally diverse and rich neighborhood and city,” Watts said. “We think that this project reflects that excitement that’s currently happening around town as we’re all witnessing this growth back inward to the city.”
With this project, Silverstein is looking to bring the same attention to detail as found in other urban areas to the Magic City.
“I have a saying in my office that Birmingham isn’t Mars,” he said. “What I hope this project reflects is a commitment to understated elegance.”Read moreDownload