City Council approves tax abatement for developer

The Birmingham City Council, at its regular meeting for Tuesday, August 4, passed a resolution giving a tax abatement to a developer — BHM 5th Ave S Holdings LLC — seeking to build a $55-million student housing complex near UAB.

The Council authorized Jefferson County to abate the city’s non-educational municipal ad valorem taxes in connection with the redevelopment of an approximately 1.29-acre brownfield site on Fifth Avenue South between 13th Street South and 14th Street South.

The developer, based in Chicago, is to build a 7-story residential student housing complex with 169 apartment units and other amenities, a 2-story parking deck with 228 spaces and about 4,500 square feet of commercial space on the street level, according to the Council agenda item.

Construction should begin in early 2021 and be completed in 2022, according to a spokesperson for the developer who appeared before the Council.

Developers are promising to create about 39 jobs.

The tax abatement will be in effect for a period of three years for each parcel obtained by the developer for the project. 

The item was recommended by Mayor Randall Woodfin, and the Council’s Economic Development and Budget and Finance committees.