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Tupelo’s Fairpark development adding tenants

FAIRPARK OFFICE BUILDING — Location: The new four-story building will be constructed at the corner of East Troy Street and Fairpark Drive. This location is one half block east of the Tupelo City Hall, and one block south of East Main Street in the Fairpark District of Downtown Tupelo.
Building Description: This building will be the newest and only “Class A” full-service office building in Tupelo. It will have four stories totaling approximately 40,000 rentable square feet. Each floor will have approximately 10,000 rentable square feet except the first and second floor which will have a two-story tall atrium. The building’s construction will be a combination of brick, precast concrete and glass. The building is being designed with energy efficient systems, and access-controlled entry. The anticipated occupancy date is March 2018.
Other Building Features: Fairpark address; Shared public parking of over 230 spaces within one block; Beautiful landscaping; Ornamental lightings; Paver parking in adjacent Plaza; Two glass elevators and two stairwells with controlled access; Large male and female restrooms on each floor; Walking distance to Bancorp South Arena, Hilton Hotel and to numerous restaurants; Generous tenant improvement allowance.
Landlord/Ownership: Maloney Development Properties, LLC is the Landlord, located in Tupelo. The pirncipal member owner and manager is Colin Maloney. Century Construction is the designated General Contractor. Century Construction and Realty, Inc. was founded in 1997 by Colin Maloney and employs almost 200 people in Tupelo, Jackson, and West Point.

By DENNIS SEID / Daily Journal

TUPELO – The first two tenants have committed to a new Fairpark District development.

Ross & Yerger is relocating its downtown Tupelo office on South Broadway to what will be called Fairpark Towers.

Joining the Jackson-based insurance company’s office will be Century Construction and Realty Inc.

Officials recently announced a public-private partnership between the city and Maloney Development Properties to spur additional commercial activity and entice new jobs into the downtown Fairpark District.

A key piece of that development would be a new office and retail space. Initial plans call for two buildings.

Ross & Yerger will occupy the second floor of the four-story office building, while Century Construction will occupy a portion of the third floor. Maloney Development Properties is the parent company of Century Construction.

“We are thrilled to be involved with the most positive and exciting area of development in the city of Tupelo,” said Dudley Wooley, CEO and COO of Ross & Yerger.

“Ross & Yerger has been a staple of downtown Tupelo for over 40 years, and we look forward to our continued growth in Fairpark Towers. We are proud to be a part of not only the betterment of the Fairpark District, but Tupelo as a city.”

Century Construction and Realty Inc., which was founded 20 years ago by Colin Maloney, also has locations in Ridgeland and West Point. Century plans to remain in the current office space off Robert E Lee Drive and add additional office space for its employees in Fairpark Towers.

Century employs about 200 people.

“I am proud to be working alongside the city of Tupelo to help bring to life the vision of a new and better Downtown for the citizens of Tupelo,” Maloney said.

Fairpark Towers – one of two planned multi-story office and retail buildings – will be built at the corner of East Troy Street and Fairpark Drive and will have four stories totaling about 40,000 square feet. The building is being designed with energy efficient systems, and access-controlled entry.

The city of Tupelo agreed to sell certain property within the Fairpark District to Maloney Properties and will construct at public expense infrastructure improvements to the area. These improvements, estimated to cost about $1.3 million, will include water and sewer lines as well as an extended road network within the development area.

The company has agreed to invest a total of $12 million into the project in exchange for the city’s public infrastructure improvements. At least half of that private investment must be completed by next June.

Maloney estimates that its private development could yield as many as 100 new jobs as well as new annual retail sales of approximately $5 million.


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