Shannon Waltchack (SW) and Ladd Real Estate plan to redevelop the former Parisian Building on 2nd Avenue North in downtown Birmingham. The building, located near the corner of 20th Street North, is next door to the Paramount building which SW redeveloped in the summer of 2014. The renovation will include significant improvements to the interior.
SW and Ladd will remodel the top two floors of the building for Action, Inc., a specialized transportation and environmental services company. The company currently occupies the top two floors of the Paramount building next door and is doubling the size of its downtown office with this expansion. The landlord plans to lease the first floor space to a bar or restaurant.
“We are excited to partner with Ladd Real Estate on the redevelopment of this historic structure. It will continue the positive momentum in the central business district,” said SW Managing Partner Andrew Patterson, CCIM.
SW has a track record for restoring projects similar to this one in the city core, such as Railroad Square, The Stockyard, 2121 Highland Avenue, 7th Avenue South, Kress Building in Tuscaloosa. The former flagship Parisian building has been vacant for the last 30 years. Its prominent location is well suited to enhance the rapidly changing office and retail market in the CBD. The theatre district down the street just experienced its first facelift in decades, and SW and Ladd are ready to improve yet another downtown structure to its original glory.
The building, originally built in the late 1800’s, was remodeled in 1937 to serve as Parisian’s flagship location until 1989. As many remember, Parisian was a family owned department store launched in Birmingham in 1877.