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Tag Archives: real estate

Perfecting the art of executive relocating

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By LISA MONTI Years ago, it wasn’t uncommon for a large corporation to buy the house of a top executive who was being moved to a new location and pay the moving expenses. Those generous relocation packages aren’t as prevalent as they used to be but some real estate companies are seeing an increase in relocation services. Broker Jeff Martella with ...

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Construction projects’ topping out ceremonies celebrate important milestones

Among those who signed the construction beam during the March 28 UMMC  topping-out ceremony are, from left, second-year medical student John Lippincott; former Vice Chancellor Dr. James Keeton; fourth-year medical student Sara Ali; Dr. LouAnn Woodward, vice chancellor for health affairs and dean of the School of Medicine; and first-year medical student Michelle Wheeler.

By LYNN LOFTON Major construction projects usually have topping out ceremonies at a certain point in the progress of the project. Is this merely ceremonial, or does it serve a more fundamental purpose? Some recent high profile projects that had topping out ceremonies include the Biloxi Shuckers baseball park, the new medical school at the University of Mississippi Medical Center in ...

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STATE OF US HOUSING — Goal of owning home still strong, and 8 other housing trends

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Americans still want to own homes — if they can afford to. That’s the finding of a report being released Wednesday by the Harvard University Joint Center for Housing Studies. The pressures of student debt, rising rents and the leftover wreckage from the nearly decade-old housing bust have restrained people’s ability to buy, even though the dream remains alive. The ...

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Sellers have advantage in Jackson area housing market

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By JACK WEATHERLY It’s a seller’s market for houses in the Jackson area. The median price for a house in the three-county heart of the Jackson metro area is up 2 percent in the 12-month period ending in April, according to the Central Mississippi Realtors Association. CoreLogic of Irvine, Calif., reports similarly that in what it calls a core based ...

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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

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  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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