$55 Million Student Housing Development Coming Near UAB

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By Barnett Wright
The Birmingham Times

The Jefferson County Commission on Thursday voted to abate nearly $650,000 in taxes for a $55 million student housing complex in the Parkside District near the UAB campus.

The County Commission approved on the consent agenda $67,293 in sales/use taxes and $578,139 in brownfield property taxes for the seven-story development, which is expected to house up to 400 residents and will be built atop a brownfield site bordered by 13th and 14th Streets South and Fourth and Fifth Avenues South.

Next Chapter Properties, the Chicago-based real estate developer overseeing the project, said the tax breaks would offset $1.5 million in environmental cleanup and mitigation costs.

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