A mixed-use development that helped drive the resurgence of the Lakeview area has sold to a local, family-owned real estate investment firm.
WeldenField acquired the 29 Seven building on Seventh Avenue South for $13.65 million, or more than $250,000 per unit. “We love the area. It’s a thriving, growing part of Birmingham,” said John Grady Welden of WeldenField Development LLC. “It’s next to the best restaurants and bars in town, St. Vincent’s and UAB.”
Built in 2012, the 29 Seven mixed-use development was one of the first signs of a commercial construction rebound and found success in residential and retail leasing.