Third building for 20 Midtown moving forward

Developers have secured financing for the third building in the 20 Midtown development.

The $110 million project by Dick Schmalz of RGS Properties and Scott Bryant of Scott M. Bryant & Co. features a five-story building that will occupy an the entire city block at Third Avenue South and 20th Street.

The mixed-use building will include 312 residential units, amenities, about 50,000 square feet of retail space, and parking. The retail tenants are anticipated to include a bank, hair salon, dry cleaning service, restaurants, and mercantile retail.

A rendering of the amenity deck at 20 Midtown’s third building. CCR ARCHITECTURE & INTERIORS

The amenity deck on the building’s fourth floor will include a pool, fitness center, grilling area, bocce ball courts, and green space.

A dedicated elevator will allow residents of the first two 20 Midtown buildings — built in 2016 and 2017 with 111 multifamily units above 45,000 square feet of commercial space that includes Publix, Chipotle, Starbucks, and AT&T — to access the amenity deck as well.

Covered parking will be provided on the ground floor, mezzanine, second, and third floors. With parking and drive thrus in a downtown environment, Schmalz and Bryant call the design “suburban urbanism.”

Construction of Phase II is expected to be complete in 2022 with most of the retail space and some of the apartments coming online sooner.

The project team includes CCR Architecture & Interiors, Bhate Geosciences, MMTR Engineers, Gonzalez-Strength & Associates, KKA Construction, Ard Contracting and Arlington Construction. Arlington Properties is managing the property while SRS Real Estate Partners is handling retail leasing.

The team is also working on other projects in the area that are creating more activity in the Midtown area with several historic renovation projects underway, including the second phase of The Battery.

As Birmingham, like other cities, is grappling with the economic challenges of the coronavirus pandemic, multifamily real estate experts believe a second stimulus package would help the market, which is being held together in part by low interest rates.

Learn more in the article originally published by Birmingham Business Journal.