Alabama looking at $1 billion from Opportunity Zone investments
Turning an 83-year-old school into an assisted living facility. Building a 125-room teaching hotel on a college campus. Converting a downtown Birmingham building vacant for four decades into loft apartments. Those are just three of about $1 billion in potential developments by private investors around Alabama. Each of the projects is located in poverty-stricken areas that, until recently, might have looked like risky investments for private developers. – AL.com
Duluth Trading Co. to open Hoover store Sept. 26
Duluth Trading Co. is preparing to open its second Alabama location later this month. A grand opening is planned for Thursday, Sept. 26 at the store, located at 5101 Fire Hose Drive in Hoover in Stadium Trace Village. The Wisconsin-based retailer opened its Madison store in June. The Hoover store will be its 57th retail location in the U.S. – AL.com
EPA says Axis chemical plant illegally polluting air
State and federal authorities say an Alabama chemical plant has been emitting sulfur dioxide and sulfuric acid mist into the atmosphere. A complaint filed in federal court accuses Nouryon Functional Chemicals of polluting the air from its sulfuric acid plant in the Axis community, north of Mobile. The EPA said in a statement that the company did a major modification of its sulfuric acid unit without obtaining the proper permits or installing required technology, among other things. – AP
Private prison, detention companies spending on Alabama politicians
Geo Group, the nation’s largest private prison and detention center company, is investing in Alabama’s lawmakers just as the company hopes to land a portion of the state’s nearly $1 billion contract to build three new prisons. Other players are also investing in lobbyists and lawmakers to compete for a share of the prize. Geo Group gave at least $80,000 to Alabama lawmakers in 2017 and 2018, while CoreCivic spent just $4,500 those two years. – AL Political Reporter
Berkadia announces action totaling $101 million for Mobile, Florida apartments
Berkadia’s Birmingham office today announced deals for the sale of one apartment complex and the secured financing for two others in Alabama and Florida. The deals were the $83.5 million financing of Highland at Springhill, a 252-unit garden-style complex in Mobile and The Vernazza, a 256-unit property in Kissimmee, Fla., along with the $17.8 million sale of Heritage Apartment Homes, a 194-unit garden-style multifamily property in Pensacola, Fla. – AL.com
GM autoworkers strike from Michigan to Texas
Tens of thousands of autoworkers across the country went on strike Sunday night after negotiations faltered between their union and General Motors. The strike began at 11:59 p.m. ET. with as many as 50,000 United Auto Workers at dozens of facilities from Michigan to Texas expected to participate. Union spokesman Brian Rothenberg told the Associated Press on Sunday night that negotiations would resume on Monday morning, even as the strike went forward. – NBC
