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Tag Archives: real estate

COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

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Construction lenders on large commercial construction loans customarily require payment and performance bonds.  At the loan commitment letter stage, this condition rarely concerns a borrower.  Later, however, when the requirement materializes into a line item in the contractor’s budget, the borrower might have second thoughts.  We attempt to define and appraise the payment and performance bond (P&P Bond). Let’s assume ...

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Wall Street Journal calls Ridgeland’s war on apartments ‘government abuse’

The Van Mark Apartments in Ridgeland.

By TED CARTER Ridgeland’s plan to displace thousands of apartment residents, many of whom are minorities, is edging into the national spotlight. The Wall Street Journal editorial page took up the issue Saturday with a characterization of the  Ridgeland strategy as government abuse that attempts an end-run around the Constitution. The goal is to accomplish what eminent domain can no longer ...

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MDA denies developer more time, other considerations on Renaissance

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By JACK WEATHERLY As reported earlier, the Mississippi Development Authority gave developer Andrew Mattiace four more years to build the $96.7 million expansion of the Renaissance at Colony Park in Ridgeland. But the developers subsequently asked for more time and other considerations. Refusal to grant the four-year extension would have posed a major obstacle to the expansion, which already had ...

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Hertz ready to step in with City Centre conversion to hotel

266,000 square-foot City Centre

  By TED CARTER A continued absence of progress on a Jackson convention center hotel could create an opening for Hertz Investment Group to convert downtown’s City Centre, a two-tower office complex, into a convention hotel. The only snag is a pair of tenant leases that do not expire until 2017 and 2018, according to Jim Ingram, executive VP and ...

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Pearl won’t allow utilities hookups to vacant residential rental units

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By TED CARTER The City of Pearl’s refusal to allow restoration of utilities services to apartment units after they are vacated has left landlords worried they soon won’t be able to pay their bills. An estimated 150 rental units throughout the city are vacant and landlords have no idea when they can begin filling them, said Steve Maulding, who along with ...

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Planners unanimously back rezoning for Colonial Highlands

colonial rendering

By JACK WEATHERLY The Colonial Highlands traditional neighborhood took a major step toward becoming a reality Wednesday when the Jackson Planning Board voted 10-0 to recommend the rezoning of the former 152-acre Colonial Country Club. The matter will be taken up by the City Council, which could close a stormy chapter in the effort to build what has been called ...

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JRA selects EDT as top choice for convention hotel developer

EDT Convention Hotel rendering

By TED CARTER Washington, D.C.-based Engineering Design Technologies has been named the preferred developer for a downtown Jackson convention center hotel. The selection of EDT’s $75.5 million proposal came at Wednesday’s meeting of the Jackson Redevelopment Authority, capping a request for proposals process that began last spring. EDT and its local team, Mississippi Developers LLC, beat out Red Leaf Development of ...

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US home prices rise at a solid clip in December

Housing-Market

WASHINGTON — U.S. home prices increased at a solid clip in December, helped by a healthy job market and low mortgage rates. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.7 percent from a year earlier, same as the annual increase in November. Prices rose 11.4 percent in Portland, Oregon; 10.3 percent in San Francisco and 10.2 percent in ...

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Central Mississippi real estate market feeling momentum

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By LISA MONTI  Last year, the central Mississippi real estate market had some highs and lows, but Realtors in the 10-county area believe 2015’s momentum could translate to good things in 2016. One high point in December’s market report from the Central Mississippi Realtors members showed that new listings increased 12.5 percent to 433 from the previous December. “Usually December ...

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