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Real Estate & Construction

Master plan for Colonial Highlands project filed with city of Jackson

By JACK WEATHERLY  A master plan for the Colonial Highlands traditional neighborhood is scheduled to be reviewed by the Jackson Planning Commission on Feb. 24, according to Bo Lockard, manager of a development group. Colonial Jackson LLC filed the plan with the city on Jan. 11, Lockard said, adding that work on the first phase of the development could start ...

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‘Bama developer rolls into Madison to make a game of it

By JACK WEATHERLY  Birmingham-based Bayer Properties LLC, which, along with Wicker Park Capital Management of Savannah, recently bought Colony Crossing in Madison for $14.3 million, has no immediate plans for the 77,427-square-foot shopping center. Given Bayer’s portfolio, there’s nothing to worry about. That plus a conversation with the developer indicates that, if anything, there will be upgrades in the future. ...

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Adding to ‘funky’ Fondren, boutique-style hotel is first part of mixed-use project

By TED CARTER A 110-room Hampton Inn set for construction in the spring will anchor a strip of shops, offices and possibly apartments at the north end of Fondren’s State Street business district. The Whitney Place Development Group headed by attorney David Pharr and Jason Watkins, son of real estate developer David Watkins, said the hotel is the only component of ...

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Madison shopping center sold

Colony Crossing in Madison has been bought for $14.3 million by Birmingham-based Bayer Properties LLC and Savannah-based Wicker Park Capital. The Madison center, opened in 2005, is the second acquisition by the two companies in tandem, the first being another upscale center in Germantown, Tenn. Colony Crossing encompasses 77,427 square feet and its tenants include Georgia Blue, Massage Envy, Pizza ...

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Merit to build medical offices facility in Madison County

By JACK WEATHERLY  Merit Health Madison announced Monday that it will build a $9 million, 35,000-square-foot medical offices building adjacent to the 67-bed hospital in Canton. The construction, which will start in a couple of weeks, is expected to be completed by the end of the year or in early 2017, Merit Health Madison Chief Executive Brit Phelps said in ...

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Organ recovery agency expanding at Flowood HQ

The non-profit Mississippi Organ Recovery Agency breaks ground Tuesday on a $2.2 million addition to its Flowood headquarters. The on-site access will “dramatically improve the timely recovery for organ and tissue donation, thus improving the outcomes for those in need of lifesaving organ transplants and life improving tissue graphs,” the Mississippi Organ Recovery Agency, or MORA, said. The recovery suites ...

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COMMERCIAL FINANCE 701 — CRE loans, credit underwriting & the Feds in 2016

US banks didn’t have to wait long to learn the Feds’ thoughts on commercial real estate (CRE) loans in 2016.  On December 18, 2015, the trio of federal bank regulators – the Federal Reserve Board, FDIC, and the Comptroller of the Currency – issued a dismal harbinger entitled “Statement on Prudent Risk Management for Commercial Real Estate Lending.” The four-page ...

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Whitney Place Development Group announces plans for Fondren hotel

According to findinfondren.com, The Whitney Place Development Group has formally announced their partnership today with Jackson-based Desai Hotel Group to construct a 111 room hotel in Fondren. The “boutique-style” Hampton Inn will be located at 3111 North State Street between Butterfly Yoga and The Pig & Pint on the site long occupied by Rankin Interiors. Construction is set to begin ...

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Stylish beach cottages on the comeback along Coast

GULFPORT — Stylish beach cottages are on the comeback along the Gulf Coast when a Gulfport couple took a chance when they incorporated Tidewater Homes in 2011. Michelle and Jeff Stanfill believed they could make their business work because enough buyers would care as much as they do about authentic architecture. The Sun Herald reports the Stanfills said their home-construction ...

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HUD charges Ridgeland targeted removal of minorities with zoning law

The goal has been to transform southeast Ridgeland by getting rid of apartments predominantly occupied by African-Americans, HUD says By TED CARTER Ridgeland officials are engaging in “unlawful discrimination based on race,” the U.S. Department of Housing and Urban Development alleges in an administrative complaint that addresses Ridgeland’s campaign to dramatically reduce multi-family rental units in the city. HUD made no ...

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