City Federal to welcome its first residents in July
Tower to relive glory days as Birmingham icon
Saturday, June 02, 2007
DAWN KENT
News staff writer
Residents are expected to begin moving in July into the upper floors of the City Federal Condominium building, a 25-story former office and banking tower that is being transformed into urban living space.
Work is still under way on much of the 1913 building at Second Avenue North and Richard Arrington Jr. Boulevard, as floors are being converted into condominiums from the top of the building to the bottom, where retail space is planned.
Atlanta-based developer Synergy Realty Services is spending more than $20 million on the project, as workers restore original architectural details, add modern touches and unearth long-forgotten remnants of the building's glory days.
"It's always an adventure," said Kat Stewart of Ingram & Associates, which is marketing the condos. "You never know what you're going to find."
Among recent discoveries are brass pocket doors in the former bank lobby that will be removed and mounted as an architectural element on the walls leading to the retail area.
Workers also are restoring some of the original tile floors, crown molding and ceilings. Elevator lobbies on individual floors and the building's iron and marble stairwell will retain their historical look.
In addition, the building's terra cotta exterior was painstakingly cleaned.
So far, there are 49 contracts on City Federal's 84 units, including a top-floor penthouse that was listed at $1.85 million. Nine closings are expected at the end of June and more are expected throughout the summer.
Adding safety and soundproofing features to the building took longer than anticipated, said Synergy principal Randy Herron. The developer had previously estimated the first condos would be ready by the first quarter of 2007.
The available units, with prices that range from $249,000 to $925,000, have two and three bedrooms, along with standard features that include granite countertops in the kitchens and master baths and hardwood floors in the main areas.
The upper floors feature far-reaching views of the city center.
Residential construction is expected to be complete by fall, and completion of the retail area is targeted by the end of the year.
Three retail spaces are available for sale on three levels - basement/terrace, first floor and mezzanine. They range in size from 3,164 to 7,405 square feet and in price from $400,000 to $740,000, said Bill Clements of Retail Specialists Inc.
Targeted tenants include a restaurant, boutique retail and specialty grocer concept, he said.
Opened as the Comer Building and renamed City Federal Building in 1962, the structure was once the tallest office building in the Southeast. It closed as a commercial building in 1994.
Other firms involved in the project include Visioneering, Cohen Carnaggio Reynolds Architects, Charles & Vinzant General Contractors and Andrea Carmichael Interiors.
E-mail:
dkent@bhamnews.com