Bayer launches redevelopment of historic Pizitz Building

Birmingham, Ala. -- Bayer Properties has begun construction on the $66 million redevelopment of the historic Pizitz Building, located on the corner of 2nd Avenue North and 19th Street in downtown Birmingham, Alabama.



The building’s top six floors will be dedicated to residential space with 143 multi-family apartments. The Pizitz Building will also have a mezzanine level with modern, temporary office space, a ground level featuring a public urban market, and an attached seven-level parking garage.



The Pizitz Building was originally built in 1923 as the home for the Pizitz department store, which was the heart of retail commerce in downtown Birmingham until its closure in 1988.



“We are excited to begin construction on the Pizitz Building, which is truly a transformative project for Birmingham,” said David Silverstein, principal at Bayer Properties. “By adding Pizitz to the list of downtown developments, we’re looking forward to a new neighborhood emerging in 2016.”



Added Jeffrey Bayer, president and CEO of Bayer Properties, “When we acquired the Pizitz Building and parking deck, we believed that the size of the property was of a scale that, when appropriate for a redevelopment, would have a profound impact on the future of the Central Business District. That time has now arrived, and we are thrilled to be a part of this gentrification.”



Bayer Properties, Wisznia Architecture and Development, and Stonehenge Capital are partnering on the redevelopment. KPS is the local architect for the project. Brasfield & Gorrie is the general contractor.



The redeveloped project is slated to open fall 2016.