The Pizitz

Opened in 1923, the Pizitz Department Store building served as a fixture in the downtown Birmingham, Alabama commercial scene until its doors closed in 1988. Part of the Downtown Birmingham Retail and Theater Historic District listed in the National Register of Historic Places, The Pizitz has found new life as a mixed-use development revitalizing downtown Birmingham.

For 15 years, there were plans for the rehabilitation of the historic Pizitz Department Store, but the scale of the project and the 2008 recession led to difficult financing and stalling of the project. To push the project forward, sponsors Bayer Properties were heavily involved in the establishment of the first Alabama state historic tax credit program. The $70 million project would not have been possible without both state and federal historic tax credits, which helped reinvigorate a 15-year stagnant investment. Ryan’s Historic Tax Credits team helped to secure $10 million in federal historic tax credits and $5 million in state historic tax credits. As a result, The Pizitz now offers a multitude of community-focused spaces, a food hall, and market-rate apartments.