Terry Ponder
Terry Ponder has worked in commercial real estate along the 280 corridor since 1995. Photo by Roy L. Williams
Shift from downtown to suburbs
“There has been a lot of press about growth downtown, but I don’t see growth there like we see on 280 and in the suburbs,” Ponder said. “I hope it does well and I’m glad to see positive publicity. But compare it to the growth in the suburbs, which never gets press, whether it’s Highway 31, Pelham with its new dynamic mayor or 280. All of these different businesses on 280 blows away what’s happening downtown.”
280 traffic not that bad
While traffic congestion on U.S. 280 gets a bad rap, Ponder says things are much better since the Alabama Department of Transportation implemented changes designed to enable vehicles to move more smoothly.
“I’m not a big fan of ALDOT, but they did a tremendous job on U.S. 280,” Ponder said. “There are a few people who complain about it, but it’s made the traffic flow much better. My wife is an RN at UAB; she’s been there 28 years. She says she can get downtown in 18 minutes. Having lived in Atlanta, I know not to get out at certain times, especially rush hour anywhere in Birmingham.”
Ponder said traffic in Birmingham is nowhere near as bad as Atlanta, Miami and other cities he has lived in.
“280 takes all of the rap because it’s straight and you can see it, there aren’t many twists and turns,” he said. “But U.S. 31 is no picnic, I-65 traffic is no picnic, Alabama 150 is terrible. You can’t even get to Helena down Highway 117, it takes you hours at rush hour.”
Commercial real estate bouncing back from 2007 recession
Bigger office buildings and warehouses are still not filling up like they were, but smaller office buildings and shopping centers are doing much better, Ponder said.
“The little shopping centers — 5,000 to 3,000 square foot, that are unanchored — are doing fine,” he said. “Certain areas of town are slowed down and others will keep doing well. For example, Trussville is a little slow right now, and Pelham is a little slow due to high inventory. I think as time passes, it will absorb. The entrepreneurial spirit is still there and filling the space of the big banks that left. Servis1st [Bank], for example, is doing very well.”
Residential housing rebound
For the first time, doctors and medical staff can leave Jefferson County for the suburbs of Shelby or St. Clair counties. Housing inventory is shrinking, and prices will be rising in certain price ranges as the inventory continues to decline.
“Other cities around the nation have the hospitals positioned where the people live, and now we are finally starting to wake up and have facilities there,” Ponder said. “There is a long way to go, but we are getting there.”
