Birmingham Construction Pipeline 3Q23

MARKET SNAPSHOT

0

Existing Units

0 %

share of existing inventory uc

0

total units under construction

# 0

rank*

1 = Highest Share of Inventory UC

0

units delivering in next 4q

0

delivered in the last 4q

* Rank is based on the share of inventory (Units Under Construction/existing inventory) for the largest 150 Markets

Construction Pipeline

Pre-Planned

2,814 Units

Under Construction

2,139 Units

Lease-Up

885 Units

Building Style

1,587

Garden-style
Units Under Construction

1,248

Mid-rise / Hi-rise
Units Under Construction

189

Single-Family
Units Under Construction

Demand v Completion

Submarket Breakdown

1,457 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
768658398

553 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
203421127

230 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
16923034

7 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
-163736

510 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
33346936

118 Units Under Construction

Demand Forecast
[Next 4 Quarters]		Supply Forecast
[Next 4 Quarters]		Historical Delivery
[10-Yr Average]
63118104

Birmingham Construction Pipeline

The information provided in this construction pipeline map is obtained from RealPage. While every effort has been made to ensure that the information contained in the map is as accurate as possible, MMG REA does not warrant, endorse, or guarantee the completeness, accuracy, or reliability of the information.
Users of the map should be aware that the data related to properties, including but not limited to locations, statuses, and details, may be subject to change without notice. MMG REA shall not be liable for any errors, omissions, or inaccuracies in the information or for any user’s reliance on the information. Users are encouraged to validate the information with other sources in the field to confirm any details or obtain further information.

Full Data Table

Property NameSubmarketAddressCityStateZIP CodeProperty StatusConstruction Start DateConstruction Finish DateTotal UnitsProperty Structure
Daniel Corp Highland DevelopmentCentral Birmingham/Mountain Brook2230 Highland Ave S & 2174 11th Ct S & 1128 22nd St SBirminghamAL35205Pre-Planned272Tower
Edgehill at SouthtownCentral Birmingham/Mountain BrookUniversity Blvd & 24th St SBirminghamAL35233Under Construction12/01/202112/01/2024280Podium
Former Ford & Grand TheaterCentral Birmingham/Mountain Brook700 8th St SBirminghamAL35233Pre-PlannedGarden
Market Lofts on ThirdCentral Birmingham/Mountain Brook2225 3rd Ave NBirminghamAL35203Under Construction/Lease-Up07/01/202101/01/2024192Garden
Station CrestlineCentral Birmingham/Mountain Brook800 Montclair RdBirminghamAL35213Under Construction02/01/202201/01/2024277Garden
The 600Central Birmingham/Mountain Brook600 19th St NBirminghamAL35203Under Construction11/01/202202/01/2026435Podium
The RailyardCentral Birmingham/Mountain Brook2216 1st Ave SBirminghamAL35233Pre-Planned135Tower
The SilosCentral Birmingham/Mountain Brook1130 2nd Ave SBirminghamAL35233Pre-Planned315Garden
The TracksCentral Birmingham/Mountain Brook2400-2500 1st Ave SBirminghamAL35233Under Construction06/01/202209/01/2024273Garden
102 West Oxmoor RoadHomewood/Southwest Birmingham102 West Oxmoor RdHomewoodAL35209Pre-Planned310Garden
2800 Milan CourtHomewood/Southwest Birmingham2800 Milan CtBirminghamAL35211Under Construction03/01/202210/01/2024294Garden
Brookwood VillageHomewood/Southwest Birmingham780 Brookwood VillageBirminghamAL35209Pre-PlannedWrap
Iron & OakHomewood/Southwest Birmingham1110 Beacon Pkwy EBirminghamAL35209Under Construction10/01/202101/01/2024259Podium
Canopy ParkHoover/Alabaster2100 Canopy TrlPelhamAL35124Under Construction/Lease-Up03/01/202212/01/2023230Garden
Dobbins Group DevelopmentHoover/Alabaster2328 John Hawkins PkwyHooverAL35226Pre-Planned272Wrap
Village CenterHoover/AlabasterJohn Hawkins Pkwy & Maxwell Rd SEHooverAL35244Pre-Planned750Garden,Single Family,Duplex/Triplex/Quadplex,Townhome/Row Home
Cahaba Valley Road & Grants Mill RoadNorth Birmingham/BessemerCahaba Valley Rd & Grants Mill RdBirminghamAL35094Pre-Planned300Garden
Star UptownNorth Birmingham/Bessemer1600 Carraway BlvdBirminghamAL35234Planned12/01/202311/01/2024Garden
The Heights IINorth Birmingham/Bessemer1291 Heights AveIrondaleAL35210Pre-PlannedSingle Family
Arlington Properties DevelopmentSoutheast Birmingham4641 US-280BirminghamAL35242Pre-Planned272Garden
Cottages at GreystoneSoutheast Birmingham7273-7277 Cahaba Valley RdBirminghamAL35242Under Construction/Lease-Up05/01/202202/01/2024189Single Family
Oak Mountain HeightsSoutheast BirminghamUS-280 & Salser LaneBirminghamAL35242Pre-Planned188Garden
The Whitby BirminghamSoutheast BirminghamCahaba Valley Rd & Brook Highland PkwyBirminghamAL35242Under Construction10/01/202207/01/2024321Garden
Inkwell on GrandviewVestavia Hills3560 Grandview PkwyBirminghamAL35243Under Construction/Lease-Up11/01/202009/01/2023274Podium

RETURN TO
NATIONAL MAP

METHODOLOGY

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Alex Blagojevich

Executive Managing Director & Founding Partner

alex.blagojevich@mmgrea.com

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Michael Sullivan

Executive Managing Director & Founding Partner

michael.sullivan@mmgrea.com

We're proud to advise our clients about more than just their assets. Gain comprehensive insight into the multifamily industry with our exclusive, on demand access to actionable market intelligence.

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AS FEATURED IN

Construction Pipeline Report Methodology

Market Snapshot

Existing Units:  An estimate of the number of units in properties with 50 or more units.

Total Units Under Construction Or In Lease Up: Units being built or pre-leased as of February 2024, for projects with 50+ units.

Units Delivering in Next 4Q: Units expected to complete by the end of Q1 2025.

Share Of Existing Inventory UC: Percentage of units under construction relative to existing stock.

Construction Pipeline Status

Prospective: Early-stage project concepts.

Planned: Projects with approved conceptual plans by planning/zoning authorities.

Under Construction: Actively developed properties.

UC/Lease-Up: Properties under development and pre-leasing.

Rental Category

Discretionary: Resort-quality properties targeting high-income renters or those choosing to rent over owning.

High Mid-Range: Appeals to dual-income households with incomes similar to those in the discretionary category.

Low Mid-Range: Targets working professionals in “gray collar” jobs (e.g., police, firefighters, teachers, technicians).

Workforce: Aimed at blue-collar workers with lower incomes.

Pipeline Map & Data Table

Data sourced from Yardi Matrix. While accuracy is prioritized, the exactness of data cannot be guaranteed.

Construction Pipeline Map

The information provided in this construction pipeline map is obtained from Yardi Matrix. While every effort has been made to ensure that the information contained in the map is as accurate as possible, MMG REA does not warrant, endorse, or guarantee the completeness, accuracy, or reliability of the information.

Users of the map should be aware that the data related to properties, including but not limited to locations, statuses, and details, may be subject to change without notice. MMG REA shall not be liable for any errors, omissions, or inaccuracies in the information or for any user’s reliance on the information. Users are encouraged to validate the information with other sources in the field to confirm any details or obtain further information.