BIRMINGHAM, Ala.--(BUSINESS WIRE)--Birmingham-Wesley Chapel Investments, LLC has announced that it has purchased 350 building lots in the Brookhaven Subdivision, along with an adjacent 550-acre parcel of land, from Four Star Holdings, a company owned by former Greater Birmingham Association of Home Builders president Bobby R. Smith, Jr.
Birmingham-Wesley Chapel Investments plans to work with Smith and other local home builders to provide building lots for 1,400 new single-family homes and patio homes.
William Gary Allen, managing director of SunBelt Land Management and founder of Birmingham-Wesley Chapel Investments, notes that the project will generate an economic impact of $630 million. It is also estimated that the Brookhaven and Richfield developments will create 4,200 new jobs. 1
“Our vision for this project extends far beyond the mere construction of new homes. It is about building communities and enabling home ownership in St. Clair County, while spurring job creation and growth in the metro Birmingham region,” said Allen.
This is important to note, as job creation in the construction industry has been uneven for Alabama. The state has lost 2,700 construction jobs over the last 12 months, and 1,200 construction jobs from May to June 2014 alone. Alabama also ranks 43rd nationally in construction job growth, according to the Associated General Contractors of America.
“Four Star Holdings is excited about our new partnership with SunBelt, and we feel very blessed to have teamed up to develop the Brookhaven and Richfield projects. We look forward to our efforts creating new jobs and contributing to the economic growth in St. Clair County,” commented Smith.
Single-family home prices in the development will range from $175,000 - $450,000, with a small number of patio homes starting from $100,000. The project is slated to begin in August 2014.
Birmingham-Wesley Chapel Investments, LLC has brought on Birmingham-based legal firm Gibbons Graham, LLC and engineering firm S & S Surveying for the project.
1 For every single family home constructed, three full-time jobs are created for a year, with half of the jobs in construction and the other half in related industries, according to the National Association of Home Builders.