Birmingham Al – History was made this month in the historic city of Birmingham on Tuesday after city leaders approved a huge project lead by an all-African American development team that also includes the general contractor.
Mayor Randall Woodfin and the city council approved an ordinance Tuesday authorizing the $1.5 million sale and development of a 222-acre property with Green Meadow Apartments, LLC. In a press release, the city said “with over $2 billion, to date, this is the largest transaction led by African Americans in the city’s history. “This is a great day for the city of Birmingham,” Woodfin said. “Not only because of the jobs, the homes, and the economic impact, but because of the history that is being made.
Preliminary studies completed by Green Meadows suggest this project will generate 240 permanent jobs and approximately 2,000 construction jobs. The total investment is said to be $100 million and the commercial areas are expected to generate $500,000 in property taxes in the first three years.
“We want to thank the mayor and council for their support in this transformational project,” said Cornell Wesley, director of the Department of Innovation and Economic Opportunity. “This sends a message to the entire country that African American and minority developers have a place in Birmingham, and we are aggressive and intentional about supporting their efforts.”