Harbert Realty Services along with partners Friedman Realty and Gladstone Partners announces the acquisition of the former Yeilding Department Store Building. The Yeilding, a historic building at the intersection of 2nd Avenue North and 22nd Street in the heart Birmingham’s 2nd Avenue Entertainment district, is the former home of the Yeilding’s Department Store. Yeilding’s was founded in 1876 by William Hood as Birmingham’s first department store. In 1911 the Yeilding Brothers Company moved the growing store to a 3-story building designed by architects Miller, Martin and Lewis on 2nd Avenue North. The new ownership group plans an innovative and extensive historic renovation to return the Yeilding to its prominence in the heart of Downtown Birmingham’s 2nd Avenue district.
The joint venture plans to develop 42 residential units and between 6,000 and 12,000 square feet of commercial space in the Yeilding Building.
Fifth Dimension Architecture & Interiors is the designer, and Harbert Realty will lead construction management.
The residential space would include a mix of studio and one-bedroom apartments ranging from 400 to 700 square feet. Amenities would include a rooftop terrace with an outdoor kitchen, fire pit, resident lounge and fitness center; bike storage and resident storage lockers; a package locker; valet waste; and in-unit smart home packages.
The ground-level and mezzanine commercial space could host a wide variety of tenants in the food and beverage and experiential sectors. Restaurant is the likely use for the ground space, which will not be subdivided.
