BIRMINGHAM, Ala. ( WIAT ) — Birmingham’s tallest building is in possible financial trouble, the CEO of REV Birmingham says the building’s owners have entered it into a receivership.
The news about the Shipt Tower has some in downtown Birmingham concerned. David Fleming, the CEO of REV Birmingham, a non-profit whose mission is to revitalize the city, says that people shouldn’t worry.
“The Shipt Tower facing things that many office buildings all across the country and downtown groups are facing, is what is the future of office, and office need and office demand,” said Fleming.
According to REV Birmingham, since the pandemic remote work has increased. Even with less people coming to the office, downtown Birmingham has remained healthy. Class A building’s, like Shipt tower, are currently at 81% occupancy rate.
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“When we look at the national average, post Covid, downtown Birmingham is fairing better than the national average. In terms of recovery from that big event, we have some good fundamentals,” remarked Fleming.