A rendering of the Battery Phase II project in downtown Birmingham.After being put on hold because of the pandemic, development of the $15 million, mixed-use Battery Phase II project in Birmingham’s Automotive Historic District is set to resume after a private equity firm’s investment.
Magic City Slicker, LLC, owned by developer Ward Neely, received the injection of funds from Addicus Private Equity, LLC, Addicus announced Wednesday. “What seemed like a project full of unstoppable momentum quickly slowed with the multitude of world events. Fortunately, I met the Addicus team around that same time, and the chaos of COVID opened the door for an immediate partnership. I am thrilled to be partnering with a team of highly sophisticated financial and private equity professionals,” Neely said in a statement.
The redeveloped buildings will also feature a courtyard with a timber-framed structure and rehabilitated warehouse windows.Addicus will also be moving its offices from Five Points to the Battery when construction is complete. Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
What pandemic?
Development expected to be finished in the first quarter of 2023. That's quick. Only about a year from now.