Multimillion dollar project goes forward in Tupelo
by Associated Press
Published: September 11,2009
TUPELO — A $9.4 million proposal to convert a vacant building in the historic Mill Village neighborhood in Tupelo into loft-style apartments has received the housing tax credits needed to proceed.
The Mississippi Home Corp. announced this week that more than $6.8 million in tax credits will be made available over the next 10 years. That will produce more than $4.5 million in equity for the project.
Other financing includes federal and state historic Rehabilitation Tax Credits and a private mortgage. The property will be rehabilitated according to federal standards for historic preservation.
Project developer Rex Todd of North Carolina said construction is set to begin by May and will take about a year.
![[RSS Feed]](http://i2.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/rssfeed.png)
![[del.icio.us]](http://i0.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/delicious.png)
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- School superintendent terminated after party funds, travel questions
- Telepak strikes another branding deal with C Spire
- Airline announces new service at Oxford
- C Spire launches new WiFi On app for Android-powered phones
- South's oldest casino to reopen as Golden Nugget
- At age 17, ‘the flagpole kid’ is already a business success story
- Accounting firm finds problems at troubled MDMR
- Doctor appeals Medicaid, Medicare fraud conviction
- Hosemann recruiting Realtors to market tax-forfeited property
POST A COMMENT