As secondary markets, the Huntsville, Birmingham and the Gulf Coast areas can’t lay claim to the dramatic population growth and major corporate relocations that have driven apartment demand in many neighboring Sun Belt cities. That, however, has not prevented some developers from rushing into Huntsville. As a result, that market, like many others, is adjusting to what is arguably too much new supply. Meanwhile, Birmingham is growing at a more measured pace. Those who invest in Alabama multifamily say the state may be close to attracting institutional investors’ attention because …
