Tag: Carraway Hospital
Old Carraway Complex to be Demolished All at Once Under New Deal With City
The city of Birmingham has revised its plans for the former Carraway Hospital complex to give developers more up-front money for demolition.
At Tuesday’s meeting of the Birmingham City Council, councilors approved revision of a 2-year-old funding agreement with Corporate Realty (doing business as Northside Redevelopment LLC), which is redeveloping the former Carraway Hospital site into a mixed-use development, Star at Uptown, which is to include residential, retail, office and dining spaces, as well as a 9,000-seat amphitheater.
Under the original incentives package, the city would have remitted $9.1 million in future sales, use and property tax revenues to Northside Development; Tuesday’s revisions cut that number in half to $4.55 million. In return, developers will now receive $3.7 million from the city for demolition right away. Read more.
Birmingham Council OKs Incentives for Project at Old Carraway Hospital
The Birmingham City Council approved an economic incentives package for the long-awaited redevelopment of the former Carraway Hospital property. Northside Redevelopment, the company overseeing the mixed-use development project, will receive an aggregate of $13.2 million in incentives, the council decided Tuesday. Read more.
