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Real Estate & Construction

HUD approves state's CDBG-R program

The U.S. Department of Housing and Urban Development (HUD) has approved the State of Mississippi’s plan to administer the Community Development Block Grant-Recovery (CDBG-R) Program, which is funded through the American Recovery and Reinvestment Act of 2009. Approximately $8 million has been allocated to the state to implement the program.

 “The Community Development Block Grant-Recovery Program will promote economic recovery ...

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EastGroup buys facilities

JACKSON — EastGroup Properties has acquired three business distribution buildings containing 227,000 square feet in Dallas for a combined purchase price of $6.675 million. The buildings, which will be renamed Interstate Distribution Center V, VI and VII, are located in the city’s close-in northwest submarket along the Stemmons Freeway. They were constructed in 1979-81 and are presently 87 percent occupied ...

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Broadband study's findings released

WASHINGTON — A new U.S. Department of Agriculture (USDA) economic analysis has found that rural communities with greater broadband Internet access had greater economic growth than areas with less access. The study, “Broadband Internet’s Value for Rural America” by economists at USDA’s Economic Research Service, compared counties that had broadband access relatively early (by 2000) with similarly situated counties that ...

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Non-residential construction still slumping

Private non-residential construction spending fell by 0.5 percent in June, according to the August 3 report by the U.S. Census Bureau. On a year-over-year basis, private non-residential construction is down 4.8 percent from June 2008. Overall, total non-residential construction spending, including both private and public, is up 0.1 percent from May 2009 to $711.9 billion, but down 0.7 percent from ...

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16th Section land revenues soar

JACKSON — In just one year, the Secretary of State’s Office reports that 16th Section land revenues have skyrocketed 42 percent and put $22.8 million additional into the hands of Mississippi’s school children. “These numbers show our new system of posting the leases on the secretary of state’s website, arming our school boards with current financial information and personally reviewing ...

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Stirling Properties makes top 20

JACKSON — Commercial Property News has ranked Stirling Properties as one of the most powerful brokerage firms for 2009. Stirling Properties, which is based in Convington, La., and has an office in Jackson, ranked 20th among the CPN-Nielsen Most Powerful Brokerage Firms. “Stirling Properties is proud to be placed among this list of prestigious, powerful real estate companies in the nation,” ...

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Eley Guild Hardy recognized

BILOXI — Eley Guild Hardy Architects recently  received an Honor Citation in the Architecture/New Construction Category for its design of St. Mark’s Episcopal Church in Gulfport from the Mississippi Chapter of the American Institute of Architects (AIA). According to the Mississippi AIA website, the honor citation is “awarded to projects worthy of recognition because of design quality.” A jury comprised ...

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Housing program funds released

JACKSON — Five non-profit organizations have been awarded Neighborhood Stabilization Program (NSP) grant funds to implement the City of Jackson Housing Program. NSP, established through the Housing and Economic Recovery Act of 2008, offers assistance to communities impacted by escalating foreclosures, home abandonments and other effects of the economy.

 “We were pleased with the level of interest and quality of ...

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Construction backlog falls in South

WASHINGTON — Associated Builders and Contractors (ABC) has released its inaugural Construction Backlog Indicator (CBI), a forward-looking measurement reflecting the amount of work to be performed by contractors in the months ahead. The CBI in the nation’s nonresidential construction industry rebounded in May to 6.3 months, up from 6.2 months in April, but still down by roughly 0.8 months since ...

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FNC using social networking tools

OXFROD — Mortgage technology company FNC Inc. is now utilizing the social networking tools Facebook and Twitter to make information about its real estate collateral management solutions and analytics more easily accessible to potential clients. On FNC’s Facebook page, visitors will find pictures, information about FNC and announcements about the company. Twitter provides FNC followers with up-to-the-minute updates on the ...

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