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Tag Archives: apartments

COMMERCIAL FINANCE 701: Permanent loans & other oxymora

  A n oxymoron – a clever figure of speech that seemingly contradicts itself – can be pretty amusing.  Jumbo shrimp.  Postal Service. Justice Ginsburg.  Devout atheist.  Unbiased opinion. One of our favorite finance-related oxymora is PERMANENT LOANS.  Our partner Roger Williams leads an active practice group specializing in permanent loans for multifamily properties.  But don’t be duped.  Permanent loans ...

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Ridgeland apartments face classification deadline

Ridgeland has given the owners of its dozen-and-a-half apartment complexes until Sept. 6 to apply for classifications that will determine whether the complexes must be demolished or gain time to meet sweeping new zoning and building-density rules. Some, such as the decades-old Baymeadows Apartment on Pine Knob Drive, may have to come down and its hundreds of residents displaced. Lawyers ...

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What’s behind the plan? Apartment zoning in Ridgeland targets minorities, lawsuit says

A federal lawsuit filed last Friday charges that Ridgeland’s bid to phase-out current apartment complexes seeks to rid the city of affordable housing occupied primarily by blacks and Hispanics. The suit on behalf of the 260-unit Baymeadows Apartments is in response to an overhaul of the city’s zoning ordinance in February that designated five of the city’s rental complexes as ...

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Jackson State to rent apartments for up to $1.9M

JACKSON — Jackson State University will lease 444-bed apartment complex next to its campus, with hopes of buying it later to accommodate increasing enrollment. The College Board approved plans for JSU to lease the Palisades apartments, spending as much as $1.9 million. Because some apartments are leased, only 290 beds would be available immediately. JSU President Carolyn Meyers says JSU ...

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Businessman admits to defrauding USDA in kickback scheme

HATTIESBURG — A Hattiesburg businessman has pleaded guilty to a kickback scheme, which defrauded the U.S. Department of Agriculture. Prosecutors say 82-year-old T.L. Pittman Jr. entered the plea in federal court in Hattiesburg to a bill of information that charged him with one count of theft of government funds. He will be sentenced Aug. 18. Prosecutors say Pittman, through his ...

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Owners of blighted buildings given deadline to submit plan

BILOXI — The owners of two of Biloxi’s biggest eyesores — the unfinished casino and the senior citizens apartments downtown — have until Nov. 1 to tell the city what they plan to do with the buildings. On July 30, the city served papers to the Catholic Charities Housing Association for the building on U.S. 90. It hasn’t been occupied ...

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Bridgeway Apartments chooses Darryl Bruno

Bridgeway Apartments in Picayune has named Darryl W. Bruno, LCSW as executive director. Bruno comes to Bridgeway with more than 26 years of experience in mental health, substance abuse and other social work settings. He founded the Kids In Crisis Project Inc. in 1989, which provided educational programs, seminars and counseling services to professionals, parents and youth residing in the ...

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Abandoned Aeolian building to be renovated

VICKSBURG — A Vicksburg building that has been empty and neglected for years appears headed for a dramatic turnaround. The four-story Aeolian building has been vacant since 1991. But The Vicksburg Post says nearly $750,000 worth of income-based tax credits will be used to make the building into senior apartments. The money from the Mississippi Home Corporation was awarded to ...

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Firm brokers sale of apartments for $10.1M

JACKSON — Marcus & Millichap Real Estate Investment Services has brokered the sale of Parham Pointe, a 393-unit 341,430-square-foot bank-owned multi-family property in Jackson. The sales price of $10.1 million represents $25,700 per unit and $30 per square foot. Scott Harris, a senior vice president, investments, in the firm’s Oak Brook office, and Bradley Barham and Brent Yurtkuran, senior associates ...

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City looking to enact redevelopment tax

RIDGELAND — The City of Ridgeland will seek legislative — and ultimately voter — approval for a 1 percent increase in the local sales tax to redevelop a southeastern area and reduce the number of apartment complexes. The tax would be very similar to the tourism tax currently levied on Ridgeland hotels, motels and restaurants, which is used to advertise ...

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