District Lofts all leased out, plans on starting 2nd phase

The District Lofts are finished and full, but more of the same type of contemporary living spaces in Birmingham's emerging Rail District might be on the way.

All 24 of The District Lofts' units are not only finished, but fully leased. The quick success of the for-sale-turned-for-lease project is prompting the developer, J.C. Cataldo, to look at building a second phase of units that will also be for lease.

"There is a shift in living patterns," Cataldo says.

Rents for units that once commanded prices starting at $400,000 now begin at $2,700 a month for a 1,550-square-foot loft. That includes all of the utilities and an underground parking space. They go as high as $3,400 a month for just under 2,000 square feet.

The development consists of a 4-story, mixed-use building where the homes are located above ground floor retail space and an underground heated parking garage. They are a few blocks east of downtown Birmingham on South Eton Street.

The old industrial corridor is dotted with old factory buildings that are being converted to lofts and businesses as the city redevelops the neighborhood. A stop for a northern extension of the Detroit-Ann Arbor commuter rail line is also planned for the area.

Source: J.C. Cataldo, developer of The District Lofts
Writer: Jon Zemke

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District Lofts all leased out, plans on starting 2nd phase

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