L&N Parkside

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L&N Parkside was a proposed 129-unit apartment and retail development to have been located at 4th Avenue South and 16th Street, opposite Regions Field. It was named for the Louisville & Nashville Railroad and the Parkside District.

The project was initiated by Watts Realty's Chip Watts, the 6-story $30 million project was to include 12,000 square feet of retail and a 200-space parking deck. The apartments would have had access to a swimming pool, a fitness center, a rentable party room, and a business center. Rents were expected to range from $1,200 for studio units to over $2,000 for two-bedroom units with balconies.

The building was designed by Hendon & Huckestein Architects and was to have been constructed by Brasfield & Gorrie and managed by Arlington Properties. The developers sought $22 million in financing from the U.S. Department of Housing and Urban Development, but were denied on the basis that there was not "sufficient, sustainable demand in the market area for an additional 129 market-rate apartment unit". Watts disagreed with HUD's assessment, but was unable to continue the project without federal financing.

References

  • Tomberlin, Michael (December 17, 2013) "Watts Realty plans $30 million apartment, retail project next to Regions Field." The Birmingham News
  • Tomberlin, Michael (July 16, 2014) "Developers pull plug on L&N Parkside apartment and retail project near Birmingham Railroad Park." The Birmingham News