The five-story Balmoral Place building located at the corner of Woodward and Brown in downtown Birmingham will now be a designated Brownfield property.
Birmingham’s city commission unanimously approved the land’s cleanup to be reimbursed through tax increment financing for an amount not to exceed $797,167. Made possible by Brownfield Act 381 of 1996, the reimbursement allows for certain environmental expenses when reuse of properties requires a cleanup like the Balmoral property.
Royal Oak-based Weiss Samona Land Development is developing the property for owners Woodward Brown Associates LLC. The cleanup process for chemical spills is expected to begin within the next week or two and will take anywhere from 60-90 days, Weiss said. Afterwards, major construction, beginning with a 30-space underground parking level, will start with occupancy expected by mid- to late 2013.
Balmoral Place is slated to have a restaurant and drive-through bank on the first floor, with office spaces on the second and third floors. The fourth and partial fifth floor will be a single, 4,000-square-foot luxury apartment, Weiss said. There will also be an ATM on the Woodward side of the building.
He said the total project cost will be “in excess of $20 million,” and occupancy is expected by mid-to-late 2013.
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