AmFirst Pays $13 Million for Birmingham Building

AmFirst's headquarters is just three blocks away at 1200 4th Ave. North, and an AmFirst news release said it plans to weave the old and new locations "to expand its footprint and meet the increased needs of its growing membership. With its proximity to the current headquarters, the new space allows AmFirst to grow while maintaining its close-knit corporate culture."

"We're thrilled to continue our investment in Birmingham, the city that has been home to our headquarters for more than 45 years," AmFirst President/CEO Kevin Morris said. "As we approach our 90th anniversary this year, this expansion is about equipping our staff with the resources they need to serve our members even better, while also providing new opportunities for community partnerships and events."

The building was formerly occupied by Pack Health, a startup that drew state and local incentives and promised 200 jobs. It had 100 employees when it shut down late last year.

AmFirst's news release identified the former owner as CS Equities LLC and quoted its general counsel, Rima Patel, saying that the building "has long been a place where Birmingham organizations have grown and served the community."

"We're pleased to see the building become part of AmFirst's expanding campus and look forward to the positive impact it will continue to have under their leadership," Patel said.

The credit union told CU Times it bought the building "to support our mission of service and ensure continued growth in downtown Birmingham."

"The building at 110 12th St. N. holds a special place in Birmingham's innovation ecosystem," it said in an email to CU Times. "Since the 1990s, it has served as a city-supported entrepreneurial incubator, later housing UAB's Office for the Advancement of Developing Industries and providing a launchpad for startups and small businesses."

The credit union said it has not decided which functions will move to the new locations or when.

"We are currently at capacity at our headquarters at 1200 4th Ave. N, so this building will serve as a multi-functional extension of our corporate campus. While our current headquarters includes a full-service branch, the new location will not offer branch services," it said. "Plans for the new AmFirst campus addition call for a modern, collaborative environment that extends our corporate office. The space will include a variety of work areas and amenities focused on teamwork, connectivity and employee well-being – from flexible meeting spaces and comfortable break areas to wellness-centered features. The new campus aims to cultivate a thriving workplace for our team and continue providing exceptional service to our members."

The building includes a sound stage that AmFirst said will support its "expanding marketing and communications initiatives, providing our team with new opportunities to connect with members and share their stories." The studio suite includes a cyclorama wall, voice booth and green room.

AmFirst's purchase of the building was applauded by REV Birmingham, which described itself as a revitalization and economic development nonprofit "working to make the city of Birmingham a more vibrant place."

"AmFirst's ongoing investment in the Switch District of downtown Birmingham reflects the momentum and optimism we see across our city," REV Birmingham President/CEO David Fleming said. "Their commitment to growth is a great example of how downtown Birmingham is a premier location for growing companies and how local organizations are helping shape the future of our community."

Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.