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New multifamily project on tap for Avondale

New multifamily project on tap for Avondale

By Hanno van der Bijl

May 27, 2020

Another multifamily development is in the pipeline for Avondale.

AvonDwell, an eight-unit residential building, is expected to go up at the corner of Fifth Avenue and 43rd Street South after the proposed plan for the new construction project was approved by Birmingham’s Design Review Committee Wednesday.

CCR Architecture & Interiors is the designer.

Renderings show the one-bedroom units would come with a bathroom and dual living room and kitchen. Parking would be provided with seven spaces in the rear of the property and one space in the front.

It’s a development by Keith Thomson of K & A Real Estate in Birmingham, who acquired the property from Randy and Freddie Shunnarah of R & F Properties LLC for $129,000 in June last year. At that time, K & A Real Estate also secured $640,000 in financing from First US Bank in Birmingham, according to Jefferson County public records.

Thomson is bullish on multifamily in Avondale.

"As a board member and coach of Southside Ball, I was involved in the renovation of Avondale Park in 2011, enjoyed the process, and came to fall in love with the neighborhood," he said. "When my youngest son outgrew little league a couple of years ago, I wanted an excuse to continue going to Avondale."

Thomson also said he and his partner, Dr. Andreas Maddux, are committed to high-end affordable housing and "disproving that that need be an oxymoron."

Located at 4308 Fifth Ave. S. on the northern outskirts of the Forest Park Neighborhood, the project will add to recent multifamily activity in the area.

Last year, the city council approved a rezoning request from ABR Properties LLC and The Dobbins Group for a new four-story apartment building at 4211 and 4241 Third Ave. S. The Dobbins Group had also purchased vacant property further west at 3815 Third Ave. S. last year. SVN/Kahn Properties also renovated and rebranded an existing apartment building at 4233 Third Ave. S.

Over the past decade, Avondale has seen organic growth nurtured by investments in the park as well as several breweries, bars and restaurants.

Commercial real estate experts have said smaller multifamily projects such as AvonDwell are attractive to the local market. Nevertheless, Birmingham’s multifamily scene also continues to see big investments from investors and developers such as Novare Group, which is pushing forward on a new project at the Interstate 459 and U.S. 280 intersection by The Summit.

This article originally appeared in The Birmingham Business Journal