Archive for the ‘REAL ESTATE – Market Sector’ Category

State Farm appeals Katrina-related whistleblower lawsuit ruling

GULFPORT — State Farm Fire and Casualty Co. has asked a judge to void a jury’s finding that the company defrauded the government involving a policyholder claim after Hurricane Katrina. Motions filed in U.S. District Court in Gulfport also seek a new trial The verdict came in April in a whistleblower lawsuit against the Illinois- [...] [...]

Hailstorm does estimated $22M worth of damage to state buildings

METRO JACKSON — The Mississippi Law Enforcement Officers Training Academy in Pearl isn’t the most aesthetically appealing place to train officers these days, its director, Pat Cronin, concedes. The March 18 hailstorms that struck metro Jackson destroyed 87 law enforcement and civilian vehicles parked at the academy when the storms hit, punched holes in roofing [...] [...]

Officials mulling building codes for unincorporated areas

OXFORD — Some buildings in unincorporated areas of Lafayette County may soon have to be constructed according to building codes, though officials are still working on the details. A code has not been adopted. However, county supervisors have appointed a committee to work out details of what will be in the building code Proposals to [...] [...]

City counts $1.2M from hospital investment after year one

by Associated Press Published: May 5,2013

Tags: city government, Commercial Real Estate, health care, hospital, investment, medical, medicine, real estate

OXFORD — The city of Oxford’s investment of the proceeds from the sale of Baptist Memorial Hospital-North Mississippi has earned about $1.2 million its first year. The city hired Glenmede in 2012 to handle the investment of the money. The Oxford Eagle reports the market value as of March 31 was $32 million. It was $30 [...] [...]

Downtown iconic hotel going on auction block

by Associated Press Published: May 5,2013

Tags: auction, bankrupt, bankruptcy, convention, hospitality, hotel, lodging, meeting, sale, sell

JACKSON — A May 22 online auction will determine the future of a downtown Jackson landmark. Auctioneer Benny Taylor tells the Mississippi Business Journal (http://bit.ly/113wahW) that several prospective bidders toured the eight-story Edison Walthall Hotel this past week. The hotel has been closed since early 2010 after burst water pipes extensively damaged the lower floors. [...] [...]

State officials concerned about La. levee plan

by Associated Press Published: May 5,2013

Tags: flood, flooding, levee, real estate, state agency, state government

SOUTH MISSISSIPPI — Secretary of State Delbert Hosemann says he’s worried that a proposed levee in Louisiana could place low-lying areas of south Mississippi in danger of flooding. Hosemann told The Sun Herald he’s concerned about a proposal being considered to build a 24-foot barrier levee near Lake Pontchartrain in Louisiana. The plan is one of several [...] [...]

State buys more property on Gulf island for $8M

MISSISSIPPI GULF COAST — The state of Mississippi has bought 217 more acres of Cat Island to set aside for public use. About one-third of Cat Island is part of the National Park Service’s Gulf Islands National Seashore and BP purchased about one-third of the island following the 2010 oil spill from the Boddie family, [...] [...]

Students design home that makes power, water, food

STARKVILLE — Mississippi State University architecture students designed a sustainable home that can provide its own electricity, water supply and food for a family of four. In the final project of a sustainable design class, the students turned theoretical principles into a practical home and landscape. They designed all aspects of a self-supporting, modern homestead, [...] [...]

County borrowing to buy land from alternative fuels company

NATCHEZ — Adams County will borrow the $9 million it now needs to buy the former International Paper property from Rentech. County officials announced earlier this week they had reached a deal with Rentech for the 478-acre property. Officials tell the Natchez Democrat the board of supervisors will adopt a resolution to issue bonds for the [...] [...]

MSU study: Residents willing to pay for coastal restoration

GULF COAST — A new survey Mississippi State University finds more than 60 percent of Americans are willing to pay to restore Louisiana’s rapidly eroding Barataria-Terrebonne estuary. The Courier reports the survey found that respondents were willing to pay between $909 and $1,751 per household for coastal restoration projects. Added up, that could generate between [...] [...]

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