BIRMINGHAM, Alabama – Tennessee's Bristol Development Group has purchased 4.6 acres on Clairmont Avenue across from Highland Park Golf Course for $4.35 million with plans to develop 246 apartments.

An official with Franklin, Tenn.-based Bristol confirmed the purchase and the number of units planned.

The recording of the sale with the Jefferson County Probate Office shows Bristol Clairmont LLC closed on the purchase of the property at 3420 Clairmont Avenue South on Monday for $4.35 million.

Bristol said in May it was considering an unidentified site in Birmingham for a new apartment project.

The company, which built the $20 million Bristol Southside condo project with 156 condos at 20th Street and Fourth Avenue South in 2006, said Birmingham was again ripe for a new apartment development.

"We're real excited to be coming back to Birmingham," David Hanchrow, chief investment officer with Bristol, said in May. "This will be one of the highest end properties in Birmingham. It will be on par with some of the other multifamily projects we've been doing throughout the Southeast."

David Oakley, partner, and Royce Emerson, senior vice president, at Berkadia Real Estate Advisors' Alabama office represented the lender in the sale of the property.

The 4.6 acre site at the bottom of this photo sold for $4.35 million to Bristol Development Group for a 246-apartment project. (contributed)

"The significant shift in housing trends nationally toward rent versus purchase for both young professionals and baby boomers alike represent real demand for this type of urban living experience with the fantastic walkability and sense of community you get being located in the heart of the historic Forest Park neighborhood," Emerson said in a statement. "With the unique architectural designs, high-end finishes and the over-the-top amenities package that the Bristol Development Group are well known for combined with this special location, the project is certain to represent a noteworthy step in the continued revitalization of downtown Birmingham."

The Clairmont site has been the subject of multiple attempted development projects since a condo plan was proposed in 2008. An older set of apartment complexes was demolished on the site in 2005 and different developers and development partnerships proposed multimillion-dollar apartment projects on the site in the past that never got off the ground.

At least one mixed-use project with retail and restaurants with apartments has been mentioned for the property in the past.

The site not only faces the golf course, but is one block to the east of the Piggly Wiggly shopping center on Clairmont Avenue.

Several other new apartment projects have started or are planned, primarily in the Parkside and Lakeview neighborhoods. The Clairmont project would be more identified with the Forest Park and Highland Park neighborhoods while still being in close proximity to the entertainment and amenities in Lakeview.

The development will have a high-end clubhouse, a courtyard with a pool, outdoor gathering and grilling areas and other amenities, Hanchrow said in May.

Bristol is also developing the $100 million Twickenham Square in Huntsville. The company has other developments announced or underway in Brentwood, Tenn.; Orlando and Jacksonville, Fla.; and Louisville.