The College Board last week approved a land-use agreement between the developer of the Mill at MSU and Mississippi State University.
The agreement, which clears the way for the mixed-use development’s parking garage, effectively ends the transactions on the city of Starkville’s side. City officials will use an $8 million Community Development Block Grant to pay for the 450-space garage. The city and Mississippi State will split any profits the facility produces. The 1.67 acres on which the garage will be built will be leased to the city for 10 years. At the end of the lease, the city will assume ownership of the property.
The Mill at MSU will feature conference space in MSU’s Cooley Building, office space and a Courtyard by Marriott hotel.
Mill developer Mark Castleberry told Columbus newspaper the Commercial Dispatch he hopes to break ground on the project this year. That’s the same timetable Castleberry used in an interview with the Mississippi Business Journal earlier this year.
Castleberry said the project’s construction schedule should clear up after the College Board’s Oct. 15 meeting, when that body could approve additional land agreements.