I posted an Instagrammy yesterday listing the 5 places I think will be good to invest in over the next 5 to 10 years. I got a lot of questions about why I thought these places were the next Avondale or Crestwood.
Let me say first, I love to watch a market turn. I love to watch for an increase in city hall meetings and construction. They are all signs of “change.”
Some people hate the word change and some people (me) love the word change. It means new opportunities and new experiences for a community. So take a deep breath and get your investments brains ready!
1. Leeds – This one is moving slower than I thought. I figured with Bass Pro Shop and the Outlet Mall going up it would’ve already beat the Trussville revitalization but it hasn’t. It will though. Affordable housing is getting more difficult to find. And nothing stays on the market very long under $200,000. Several new shops have opened up in downtown Leeds. And let’s just talk about how cute downtown Leeds is. Older buildings, charming little sidewalks, well maintained, cute windows. It has the whole adorable package of a historical downtown. There is also a lot of land left to build on the outskirts. Not to mention the estate lots down Hwy 119. If it were me, I would be purchasing the older homes walking distance to downtown Leeds. If Leeds plays it right, they should invite some really good franchise restaurants and maybe a Starbucks down there.
2. Downtown Trussville – I love Trussville. We live on the outskirts of town and I saw the BIG change coming the second we got a new Mayor. We’ve increased over the last 20 years with new commercial but nothing like what is about to happen. Downtown Trussville is going under a major revitalization. It doesn’t have the charm of a traditional historical downtown but OH it will! The new plans are so awesome! I am seeing a lot of people wanting to move closer in town to be walking distance to schools, restaurants, church, etc. I would throw in here that purchasing a commercial property would not be a bad idea (if there are any left). If they add condo/lofts above the commercial coming by the brewery’s – buy them.
3. Alabaster – $68 million. That’s how much it cost to build the new Thompson High School. This place is unreal! The food court is insane and what teenager can’t live without a charging station?? Their athletic department is going awesome and more and more people are moving out there for this reason. Homes are not on the market very long under the $175,000 mark. If you can get your hands on a cute townhouse or older house, get it.
4. Norwood – Oh, beautiful Norwood! I bet she was a beauty in her glory days. Mostly my thoughts about Norwood are because the addition of Top Golf and the recent ideas from Mayor Bell about turning Carraway Hospital into residential and commercial – using it as a multidimensional development. Several investors have purchased property and vacant land waiting on the big guys to come in and pay big money for them. Houses and lots are dirt cheap right now. You earn bonus points if you can buy and fix up. Don’t tear down!
5. Downtown Birmingham – She’s been movin and groovin but there is not enough news going on about all the changes happening. Drive down 2nd Ave North or South and you can see all of the changes. More buildings are being redone. The Publix is adorable, Pizitz Food Hall is amazing and the New Ideal Lofts coming to the Theater District. And I’m so excited we have “districts” now. Not like Hunger Games, but close. The other cool thing about downtown is the new football field coming in 2021. Looking forward to seeing the finished product and praying for a maybe, just maybe an NFL team?? Buy a condo or loft. We have an amazing medical school called UAB and residence and college students are always moving in and out of town…duh. Plus maybe you could rent it out to the athletes coming to the World Games in 2021
Did I miss any other areas? What areas are you watching and why?
Kallaher Group w/ Lucas & Associates