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Real Estate & Construction

The Promenade holds grand opening

D’IBERVILLE — On Oct. 11, CBL & Associates Properties Inc. and Forum Development Group, LLC, held the grand opening for The Promenade, the 700,000 square-foot power center located in D’Iberville. It is the largest retail project in the Mississippi Gulf Coast since Hurricane Katrina. The first phase of The Promenade, totaling approximately 480,000 square feet, opened more than 96 percent ...

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Court rules in wind-versus-water case

According to USAA, the Mississippi Supreme Court has issued a unanimous decision in Corban v. USAA, settling once and for all the legal issues surrounding Hurricane Katrina claims in Mississippi, and confirming that USAA has handled Katrina claims correctly. “This ruling is a good decision for USAA as well as for Mississippi homeowners,” said Paul Berry, a spokesperson for USAA, ...

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MEMA gives update on storm's devastation

ACROSS MISSISSIPPI — The Mississippi Emergency Management Agency (MEMA) has given an update on the deaths, injuries and damage caused by storms that rolled through the state Oct. 9. MEMA reports one person was killed, two injured and seven are displaced after a tornado ripped through mobile homes in the Wayside community of Washington County. Several other counties reported damage. ...

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FNC reassures clients about compliance

In the past month, FNC Inc.’s corporate leaders have traveled coast-to-coast to assure their clients, many of the nation’s major mortgage lenders and servicers, that they need not worry about news of pending regulation changes. Rumors of new lending regulations have been prolific lately among financial news sources. Most recent are a HUD announcement requiring documented appraiser independence on all ...

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New disaster arbitration process launched

MISSISSIPPI GULF COAST — Certain applicants for federal public assistance funding resulting from damages incurred from hurricanes Katrina and Rita may participate in a new arbitration process pursuant to the American Recovery and Reinvestment Act of 2009, according to FEMA. The new arbitration system is designed to further recovery efforts by providing final adjudication of particular disputes involving projects in ...

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Construction industry cuts more workers

Employment in the nonresidential construction industry fell by 13,000 jobs in September, according to the Oct. 2 employment report by the U.S. Labor Department. Since Sept. 2008, the nonresidential construction sector has lost 107,800 jobs, or 13 percent, and now stands at 710,700. The pace of job loss in heavy and civil engineering construction employment has been similar to the ...

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Fairpark redevelopment gains notice

TUPELO — A partnership between the Mississippi Department of Environmental Quality (MDEQ) and the City of Tupelo in redeveloping the Fairpark District has won a regional Phoenix Award. The award will be presented in November at the National Brownfield Conference in New Orleans and will recognize the redevelopment of the contaminated property at the old fairgrounds into the popular downtown ...

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Housing preservation grants awarded

AROUND MISSISSIPPI — The U.S. Department of Agriculture (USDA) is providing $9.8 million in grants to repair rural housing and make energy efficiency improvements in 48 states and Puerto Rico. The funds are being awarded through the USDA Rural Development Housing Preservation Grant program. Housing preservation grants ensure that rural single and multi-family housing stocks are adequate, meet current safety ...

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Commercial construction spending steadies

Private nonresidential construction spending was virtually unchanged in August, falling just 0.1 percent, according to the Oct. 1 report by the U.S. Census Bureau. However, compared to Aug. 2008, spending is down 10.5 percent. Total nonresidential construction spending, that includes both private and public, slipped 0.4 percent from July, and is down 4.7 percent from Aug. 2008 to $684.5 billion. ...

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SBA extends GO Loans

MISSISSIPPI GULF COAST — The U.S. Small Business Administration (SBA) is extending its Gulf Opportunity Pilot Loan Program (GO Loans) through Sept. 30, 2010. SBA launched the GO Loan Pilot in Nov. 2005 to provide expedited financial assistance to small businesses severely impacted by Hurricanes Katrina and Rita. Under the program, SBA provides 85 percent guarantees (90 percent under American ...

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