BIRMINGHAM, Ala., Jan. 12, 2026 /PRNewswire/ — UB Community Development (UBCD), a community development partner of United Bank, is proud to announce its role in financing an $11 million New Markets Tax Credit (NMTC) allocation with MBA Engineering, LLC. The funds will be used for a transformative redevelopment project in Birmingham’s Parkside District for the acquisition and rehabilitation of a commercial facility located on 14th Street South.
The investment in a long-underutilized property will support the growth of a minority owned business and bring new life to a historic structure. MBA Engineers, a structural and civil engineering firm operating in Birmingham since 1928, will expand its operations as the anchor tenant in the Wade Wood Building. The project will transform the vacant building into a vibrant commercial space with MBA occupying over 11,000 square feet with 8,000 square feet targeting food & beverage retail tenants along the primary façade. The redevelopment of the historic Wade Wood building will create permanent quality positions and temporary construction jobs, while delivering significant economic and community benefits to local residents.
“UBCD is committed to fostering growth and opportunity in underserved areas,” said Alex Jones, Executive Vice President of United Bank and President of UB Community Development. “This project exemplifies how NMTC investments can drive meaningful change by creating jobs and improving communities across the region. I want to thank Keith Owens and the project team for allowing UBCD to play a role in this project.”
The project will deliver a range of community benefits including the preservation of historic architecture, activation of nearly 21,000 SF of commercial space, retention and expansion of high-wage technical jobs, and added energy to Birmingham’s Parkside District.
About UB Community Development
Headquartered in Atmore, AL, UB Community Development’s strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing and more to positively affect growth in regional communities. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.
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SOURCE United Bancorporation
