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Real Estate & Construction

Commercial real estate market signs optimistic

By NASH NUNNERY Improved job growth and a strong demand for multifamily housing in recent years has resuscitated the commercial real estate market, according to experts. And now with Donald Trump sworn in as America’s 45th president in 2017, what does this mean for commercial real estate in Mississippi? As with all new presidents, uncertainty abounds about a new political ...

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COMMERCIAL FINANCE 701 — The outlook in Mississippi for 2017

Michael Lewis’ new book – The Undoing Project – should be the starting point for any projections about commercial finance in Mississippi during 2017.  The book underscores our defective reasoning process that routinely (1) underestimates uncertainty, (2) places too much weight on limited observations, and (3) ignores biases.  With those caveats in mind, we guesstimate the outlook for commercial finance ...

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Colonial Highlands puts grocery parcel back on market

By JACK WEATHERLY  The Colonial Highlands developer had been talking with Walmart about opening a 35,0000-square-foot store in the mixed-used development in Jackson. But that apparently is not an option now. The world’s largest retailer has decided to cut back drastically in store openings in the coming year. That has forced the project, whose cost is about $250 million and ...

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Post-election uncertainty, market activity result in mortgage spike for potential homebuyers

By LYNN LOFTON  The election has turned the mortgage industry upside down with very quick movement to higher interest rates – an increase of at least .5 percent in just a week’s period of time, said Joe W. McNeese III, president of the mortgage division, Community Bank, Brandon. McNeese said mortgage rates tend to follow what the bond market is ...

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Coming full circle in Livingston?

By JACK WEATHERLY  This Town of Livingston dates to 2014. That was about 190 years after the original  Livingston was created and long after it disappeared. Now, its eighth and ninth buildings are under construction. A Sal & Mookie’s will open in the upscale development at the intersection of Highways 463 and 22 in the rolling hills of Madison County. ...

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New law uncovers secrets: 10 to 15 percent of real estate applicants have criminal convictions

By BECKY GILLETTE  Starting July 1, regulations went into effect that were passed by the Mississippi Legislature to provide more protections for consumers by requiring real estate agents in Mississippi to have fingerprinting and a background check before being licensed. Mississippi Real Estate Commission Administrator Robert Praytor said background checks are showing about ten to 15 percent of applicants have some ...

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The Lofts at 517 giving people reasons to come to downtown Greenville

By BECKY GILLETTE GREENVILLE — In recent years Delta communities have been losing population as many young people move elsewhere for employment opportunities. A new development in downtown Greenville, The Lofts at 517, is being designed to create a synergy to bring back not just the downtown, but former residents. That is what is happening with Allen and Erin Sanders, who ...

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Gulfport hopes rule change means more downtown dwellers

If you want to live in downtown Gulfport, the city hopes to make it easier. Builders until now have needed permission from the Planning Commission for homes or apartments downtown. The city council at its meeting Tuesday voted unanimously to do away with that rule. City officials estimates fewer than a dozen people live downtown south of the railroad tracks, ...

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Storefront maker moves fabrication to Waveland

By LISA MONTI Infinity-AP is moving its custom storefront fabrication operation from Chalmette, La., to the vacant 84 Lumber location off U.S. 90 in Waveland. Co-owner Rick Bradley said the goal is to open in early 2017 with up to 15 employees. The company designs, engineers and fabricates custom storefronts for international retailers. Bradley said their best known customers are Abercrombie ...

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