$24 Million American Life Building Renovation Kicks Off Birmingham’s Opportunity Zone Initiatives

By Michael Tomberlin

One of the most prominent vacant buildings in downtown Birmingham is about to get a $24 million transformation into 140 workforce housing apartments thanks to opportunity zone funding and a new initiative by the city of Birmingham.

Birmingham Mayor Randall Woodfin used the redevelopment announcement of the Stonewall/American Life building at 2308 Fourth Ave. N. to unveil the Birmingham Inclusive Growth (BIG) Partnership, a two-pronged effort to identify potential opportunity zone projects in one of the city’s two dozen designated opportunity zones, and to work with a separate investment board to find opportunity zone dollars to fund those projects.

“We believe that this innovative vehicle can help drive investment in Birmingham’s 24 opportunity zones – guided by community voice, bolstered by city resources and elevated by respected leaders in the investment community who believe in Birmingham’s potential,” Woodfin said.Although the opportunity zone projects announced in Birmingham thus far have been mostly downtown, Woodfin noted that potential exists in almost every part of the city.

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