Located at the base and outskirts of Oak Mountain State Park, the mixed-use Canopy at Oak Mountain development overcame numerous challenges to come to life but now has much to offer the Birmingham, Alabama, populace.
CoStar’s Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge.
In recognition, the project was selected by a panel of local industry professionals as the winner of the 2024 CoStar Impact Award for commercial development of the year.
This development includes 234 luxury apartments and about 25,000 square feet of retail space. Partnership Group, a venture consisting of GenRev Properties and WeldenField, acquired the 26-acre site pre-COVID and faced various obstacles before breaking ground on the development in late 2021.
Being at the base of a mountain also presented several challenges, especially related to rock excavation, but the project was successfully completed close to Interstate 65 to the east and Highway 31 to the west.
About the Project:
Canopy at Oak Mountain was completed in September near the city of Pelham and with access to the Oak Mountain State Park and its thousands of acres of nature and bike and pedestrian paths. The $60 million project is also 4 miles from local shopping at the Riverchase Galleria Mall and a few miles from several hospitals. It has an outdoor amphitheater and Pelham Civic Center for residents and tenants across the street.
What the Judges Said:
“The Canopy at Oak Mountain significantly enhances the local community by providing a unique mix of residential and retail space, bolstering economic activity and community engagement,” said Stephanie Hill, director of marketing and research at Southpace Properties. “The outdoor amphitheater, civic center, and direct access to Oak Mountain State Park through a new bike path further enrich the living experience, indicating a substantial positive impact on the local environment and lifestyle.”
They Made it Happen:
John Benner of GenRev Properties and Welden Johnston of WeldenField
Article Written By Brian Whitney and Adam Reiskin, Costar
March 27, 2024
CoStar’s Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge. Learn more about the awards here.
