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Historic Alabama high-rise undergoes $25M renovation

Historic Alabama high-rise undergoes $25M renovation

New life is being breathed into a historic high-rise building in Alabama.

The 12-story Bell Building in Montgomery is undergoing a $25 million renovation thanks to help from Chinese investors, according to the Montgomery Advertiser.

Once complete, the building will house 88 luxury loft apartments, as well as retail and restaurant space. Approximately 85 jobs will be created as a result of the project.

Funding for the renovation is coming from historic tax credits, a federal construction loan and the EB-5 Investor Visa Program. In exchange for speeding their status as legal permanent residents in the U.S., Chinese investors provided almost $4 million to renovate the building.

Featured on the National Register of Historic Places, the Bell Building sold in 2014.

Ausfeld & Blount, a local architectural firm, designed the original building, and once complete, it stood as Montgomery's tallest building in 1910.


https://www.bizjournals.com/birmingham/news/2017/11/10/historic-alabama-high-rise-undergoes-25m.html

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