Vulcan
June 20th, 2005, 03:41 AM
California based Leer Corporation plans to convert the 20-story Cabana Hotel (Circa 1930) into 65 condos. The Cabana development is just one of three MAJOR redevelopment announcements within the past two months. Other recently announced development projects for large downtown Birmingham historical buildings include:
City Federal: (circa 1913) 27-storie; 150 condos
Pizitz Department Store: (Circa 1923) eight-stories; 100 condos
Former Cabana going condo
Sunday, June 19, 2005
MICHAEL TOMBERLIN
News staff writer
Modesto, Calif.-based Leer Corp. plans to invest about $20 million to turn the former Cabana Hotel into 65 condos and commercial space to be known as Leer Tower.
The 20-story, 158,000-square-foot building at 1631 Second Ave. North dates from 1930 and has been mostly vacant for 22 years.
"I think this building is perfect and it lends itself to this type of redevelopment," said David Leer, president of Leer Corp. "There is so much original beauty in this building, and we want to maintain as much of that as we can."
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Leer Corp. is wrapping up work on the due diligence examination phase of its contract, and it has another 60 days to close on the purchase, which it plans to do at the end of August. The seller is represented by Chip Watts and Charlie Parrish of Watts Realty, whose Web site has said the hotel is listed for sale at $1.5 million.
If all goes as expected, Leer said, renovation work will begin in September and proceed in three phases over two years.
Leer's plans for the Cabana are detailed. Playing off the building's original name, the Hotel Thomas Jefferson, the project features four different two-bedroom floor plans, each named after a former U.S. president.
The largest units will be known as the Jefferson condos and are tentatively priced at $399,500. Next down are the Lincolns priced at $314,500, followed by the Roosevelts at $309,000 and the Washingtons at $225,000.
The condos will range in size from 1,097 to 1,665 square feet.
Leer Corp. says all the units will have two or three window views and will include granite countertops, double crown molding, and hardwood or tiled floors.
The plan also calls for a top-floor penthouse that will either be a single 6,000-square-foot unit or two 3,000 square foot ones. No prices have been set.
Page 2 of 2
Plans call for removing the "C" from the top of the building and replacing the Cabana sign with one that reads "Leer Tower."
Leer says the building's roof is set to include a small pool where the water tower once stood. A hot tub and terrace garden will be added to the rooftop for penthouse residents. A sauna is a possibility.
The building will have a fitness center. The second floor is set to be used for restaurant space. The ballroom and banquet hall space on the ground floor will likely be used for commercial or retail space, Leer said.
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Leer plans a twist to generate interest in the condo project: Each resident will be offered a lease on an electric car to make travel in and around downtown more convenient.
Meanwhile, the company is working with Operation New Birmingham to secure adequate parking beyond the 40-space lot in the deck on the property. Leer said he believes they have found enough parking for the short term and are working on solutions for the long term.
ONB President Michael Calvert said this project, along with other nearby projects such as the Phoenix Lofts, Jemison Flats, the future Jefferson Lofts condo conversion and the Pizitz renovation into residences, shows that activity in downtown's west side is accelerating.
"The level of vitality and energy in that area is going to dramatically change the character of that neighborhood," Calvert said. "That area is really transforming rapidly."
Leer Construction will be general contractor for the renovation. Leer Real Estate will handle sales.
Two of the company's representatives are relocating from California to handle the redevelopment.
Leer said most of the company's work has been restoring old warehouses and similar projects. Leer Corp. now has a portfolio of about 2 million square feet of office and residential space that has been developed, built, or remodeled in California, including a number of renovation projects in downtown Modesto.
Finding a hotel as ornate and attractive as the Cabana is rare, Leer said.
"Just this building's beauty and the fact that we are passionate about downtowns made this a natural," he said. "Just being able to get into a project like this is pretty excited." On the Web: www.leertowercondos.com
City Federal: (circa 1913) 27-storie; 150 condos
Pizitz Department Store: (Circa 1923) eight-stories; 100 condos
Former Cabana going condo
Sunday, June 19, 2005
MICHAEL TOMBERLIN
News staff writer
Modesto, Calif.-based Leer Corp. plans to invest about $20 million to turn the former Cabana Hotel into 65 condos and commercial space to be known as Leer Tower.
The 20-story, 158,000-square-foot building at 1631 Second Ave. North dates from 1930 and has been mostly vacant for 22 years.
"I think this building is perfect and it lends itself to this type of redevelopment," said David Leer, president of Leer Corp. "There is so much original beauty in this building, and we want to maintain as much of that as we can."
Advertisement
Leer Corp. is wrapping up work on the due diligence examination phase of its contract, and it has another 60 days to close on the purchase, which it plans to do at the end of August. The seller is represented by Chip Watts and Charlie Parrish of Watts Realty, whose Web site has said the hotel is listed for sale at $1.5 million.
If all goes as expected, Leer said, renovation work will begin in September and proceed in three phases over two years.
Leer's plans for the Cabana are detailed. Playing off the building's original name, the Hotel Thomas Jefferson, the project features four different two-bedroom floor plans, each named after a former U.S. president.
The largest units will be known as the Jefferson condos and are tentatively priced at $399,500. Next down are the Lincolns priced at $314,500, followed by the Roosevelts at $309,000 and the Washingtons at $225,000.
The condos will range in size from 1,097 to 1,665 square feet.
Leer Corp. says all the units will have two or three window views and will include granite countertops, double crown molding, and hardwood or tiled floors.
The plan also calls for a top-floor penthouse that will either be a single 6,000-square-foot unit or two 3,000 square foot ones. No prices have been set.
Page 2 of 2
Plans call for removing the "C" from the top of the building and replacing the Cabana sign with one that reads "Leer Tower."
Leer says the building's roof is set to include a small pool where the water tower once stood. A hot tub and terrace garden will be added to the rooftop for penthouse residents. A sauna is a possibility.
The building will have a fitness center. The second floor is set to be used for restaurant space. The ballroom and banquet hall space on the ground floor will likely be used for commercial or retail space, Leer said.
Advertisement
Leer plans a twist to generate interest in the condo project: Each resident will be offered a lease on an electric car to make travel in and around downtown more convenient.
Meanwhile, the company is working with Operation New Birmingham to secure adequate parking beyond the 40-space lot in the deck on the property. Leer said he believes they have found enough parking for the short term and are working on solutions for the long term.
ONB President Michael Calvert said this project, along with other nearby projects such as the Phoenix Lofts, Jemison Flats, the future Jefferson Lofts condo conversion and the Pizitz renovation into residences, shows that activity in downtown's west side is accelerating.
"The level of vitality and energy in that area is going to dramatically change the character of that neighborhood," Calvert said. "That area is really transforming rapidly."
Leer Construction will be general contractor for the renovation. Leer Real Estate will handle sales.
Two of the company's representatives are relocating from California to handle the redevelopment.
Leer said most of the company's work has been restoring old warehouses and similar projects. Leer Corp. now has a portfolio of about 2 million square feet of office and residential space that has been developed, built, or remodeled in California, including a number of renovation projects in downtown Modesto.
Finding a hotel as ornate and attractive as the Cabana is rare, Leer said.
"Just this building's beauty and the fact that we are passionate about downtowns made this a natural," he said. "Just being able to get into a project like this is pretty excited." On the Web: www.leertowercondos.com