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Why You Should Invest In Mobile, Alabama

 

Duratus Properties recently turned 3 years old on March 11th! We are so happy to look back on all that we have accomplished over these past 3 years! There are big things on the horizon for Duratus Properties including our recent expansion into the Mobile and Baldwin County markets.      

Maybe you’ve heard, but the Mobile and Baldwin County real estate markets are on fire! While these markets are competitive right now, we believe this is a great time for investors to consider buying in this area. 

Here are a few big things that are currently underway in Mobile that you might want to know about: 

  • Port Expansion: The Port of Mobile is currently the 10th largest port in the United States, and is a major driver of economic activity in the region. Furthermore, the port is in the midst of a large deepening and expansion project. The Alabama State Port Authority recently announced a $49.5 million expansion of the container facility at the Port of Mobile. This expansion will increase throughput capacity by 650,000 twenty-foot equivalent units (TEUs). When the entire port expansion project is complete, the Port of Mobile will have an annual throughput capacity of 1.5 million TEUs (Mobile Area Chamber of Commerce, 2018).
  • Airport Relocation & Expansion: From the outside looking in, it seems odd that Mobile would have a relatively small regional airport in light of its robust port and aircraft manufacturing industries. Mobile needs a larger international airport in order to build on its other economic growth initiatives. The City of Mobile has been working for several years on a master plan to expand and relocate its airport to the Brookley Aeroplex, and the plan is nearing its final stages of completion. Once the plan is complete, the airport will start executing its relocation and expansion efforts. Relocating and expanding the Mobile Regional Airport to the Mobile Downtown Airport is expected to triple airport throughput and will be a game-changer in the local economy, adding more synergy to Mobile as a multi-modal transportation hub in the south (Mobile regional airport master plan
  • Major Infrastructure Improvements: Major infrastructure improvements are underway in Mobile. In 2018,  Mobile received a $14.5 million grant from the Transportation Investment Generating Economic Recovery (TIGER grant). This grant is allowing the city to repair and replace the aging infrastructure around the city. This grant is part of a larger initiative called “One Mobile,” which will provide efficient connectivity between residents, transportation corridors, and employment centers. The grant improvements will also reconnect neighborhoods that are currently divided by Broad Street by creating more walkable options like bike paths, pedestrian lanes, and landscaped medians. The completed project will cost $21 million and will result in better transportation throughout the city (Staples, 2018).

We believe that Mobile, Alabama is in the beginning stages of a resurgence. In particular, the St. Louis Street corridor is leading the way in transforming downtown Mobile. Several new projects are currently in development in the historic district formerly known as “Automobile Alley” along St. Louis Street (Gentry, 2018). One new highlight is Innovation PortAL, formerly a Volkswagen dealership, a technology-focused incubator, which serves as a launchpad for future innovation in the technology corridor emerging on St. Louis St.

Looking at all of this activity, it is clear that Mobile is poised to grow significantly over the next 5-10 years. We encourage our clients to start considering Mobile as a promising new market for investment if you aren’t already considering it.

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