Bayer Properties Looks At What’s Next After Opening Pizitz In Downtown Birmingham
By Michael Tomberlin
With praise for the redeveloped Pizitz Building in Birmingham still at a low roar, Bayer Properties is eyeing its next transformative projects, with one holding its grand opening today in Kentucky.
The Summit at Fritz Farm in Lexington is the latest iteration from the company that introduced “lifestyle center” development to Birmingham with The Summit. It’s the first new development Bayer Properties has taken on since the recession stymied development across the country nearly nine years ago.
Fritz Farm will have 300,000 square feet of retail and restaurant space, with land to expand onto in the future. One of the evolutions of the lifestyle center projects is the addition of more than 300 apartments above the retail segment – a mixed use that is more common in downtown redevelopment projects than in suburban open-air malls. Fritz Farm will add a hotel and 50,000 square feet of office space.“(Lexington) is in a market that could use a project like that,” said Jeffrey Bayer, principal with Bayer Properties. “We’re trying to give the city a place where people can come congregate and enjoy themselves.”
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