For Leasing Inquires, please contact: Geoffrey Johnson admin@parkwaysquare.com 205.853.6909

Leasing Info & Application >>

About the Area

Birmingham is the largest city in Alabama. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area accounts for approximately one-quarter of Alabama’s population.

MARKET HIGHLIGHTS
Economy is the largest in the state
• Birmingham’s gross metropolitan product (GMP) is forecast to grow by approximately 2.7 percent annually during the next five years.
Prominent automobile manufacturing and distribution center
• The MSA is home to three international automobile manufacturers: Honda, Hyundai and Mercedes-Benz.
The Birmingham-Hoover MSA is diversifying
• A shift is occurring from a manufacturing economy to one based on bio-technologies and finance.

GEOGRAPHY
The Birmingham-Hoover MSA, spanning more than 5,300 square miles, is located in the north central portion of Alabama. The metro is primarily comprised of two counties; the majority of the population lives in Jefferson County where the subject property is located, while only a small portion lives in Shelby County. The MSA has a pleasant subtropical climate, resulting in warm summers and mild winters. The largest metro located near Birmingham is Atlanta, 140 miles east in neighboring Georgia.

INFRASTRUCTURE
The Birmingham-Hoover MSA is served by Interstates 20, 59, 65 and 459, as well as U.S. Routes 31 and 280. The state is looking to expand the regional interstate transportation system with the construction of Interstate 22 and the planned development of a 52-mile Northern Beltline corresponding to the existing Interstate 459. Additionally, the metro is served by the Metro Area Express (MAX) bus system, which is regulated by the Birmingham-Jefferson County Transit Authority.

ECONOMYBirmingham employment by industry
Economic growth in the Birmingham-Hoover MSA has remained stable and healthy during the past several years. Looking forward, the gross metro product is forecast to grow by 2.7 percent annually for the next five years.
While the steel industry continues to be an integral part of the economy, particularly with regards to automobile manufacturing, it does not maintain the same level of prominence it once held. Currently, the economy in the Birmingham-Hoover metro is dominated by the health care and financial services industries. The University of Alabama at Birmingham, a national leader in biotechnology and medical research, has greatly transformed the economic environment and injects billions of dollars into the local economy annually. On the financial services side, two major investment firms maintain a significant presence in the metro: Regions Financial Corporation and Compass Bancshares.

Top 10 Employers
University of Alabama, Birmingham 18,750
AT&T 5,485
Regions Bank 5,000
Honda Manufacturing 4,500
Baptist Health Systems, Inc. 4,000
Mercedes-Benz 4,000
Bruno’s Supermarket, Inc. 3,477
Children’s Health System 3,200
Wachovia 3,094
Alabama Power Company 4,800

Population of Birmingham by ageDEMOGRAPHICS
The Birmingham-Hoover MSA’s population totals 1.1 million residents, making it the largest metropolitan area in the state of Alabama. Nearly one in four individuals living in the state are employed in the Birmingham-Hoover metro. In Birmingham, the median age is 37.7 years, slightly higher than the national average. The area is very attractive to individuals of all ages. A favorable climate, coupled with a relatively low cost of living, continue to generate in-migration.
Population growth in the metro is accelerating. During the next five years, the population is expected to expand by 1.5 percent annually.