Crestwood Green at 701
Crestwood Green at 701 (formerly Crestwood Villa Apartments, Century Valley Apartments, Crestwood Crossings, Town Park Apartment Homes, and The Park at Alloa Apartments) is a 270-unit apartment complex located on Crest Green Road and Crest Valley Way off of Crestwood Boulevard in Birmingham's Oak Ridge Park neighborhood.
The complex, which was constructed in 1980, was sold to an affiliate of MDIC Management in January 2008 for $6.9 million. The new owners planned a $4 million renovation project.
Blue Rock Partners of Tampa, Florida acquired the complex in 2015 for $15 million and rebranded it as "The Park at Alloa" and undertook a renovation project to upgrade finishes and amenities. They sold it to an affiliate of Peak Capital Partners of Provo, Utah in 2019 for $21 million. In April 2023 an affiliate of Elandis Multifamily Real Estate of Coral Gables, Florida acquired the complex for $22.25 million.
In September 2016 a 23-year-old male was shot to death during a robbery at the complex.
References
- "Irondale complex sold, renovations planned." (January 11, 2008) Birmingham Business Journal
- Davis, Bryan (July 17, 2015) "Town Park apartments sold for $15 million, rebranded Park at Alloa." Birmingham Business Journal
- Van der Bijl, Hanno (October 17, 2019) "Crestwood multifamily property sells for $21M." Birmingham Business Journal
- Parker, Illyshia (April 25, 2023) "Crestwood Green at 710 Apartments sells in multimillion-dollar deal." Birmingham Business Journal