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Real Estate & Construction

Post-election uncertainty, market activity result in mortgage spike for potential homebuyers

By LYNN LOFTON  The election has turned the mortgage industry upside down with very quick movement to higher interest rates – an increase of at least .5 percent in just a week’s period of time, said Joe W. McNeese III, president of the mortgage division, Community Bank, Brandon. McNeese said mortgage rates tend to follow what the bond market is ...

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Coming full circle in Livingston?

By JACK WEATHERLY  This Town of Livingston dates to 2014. That was about 190 years after the original  Livingston was created and long after it disappeared. Now, its eighth and ninth buildings are under construction. A Sal & Mookie’s will open in the upscale development at the intersection of Highways 463 and 22 in the rolling hills of Madison County. ...

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New law uncovers secrets: 10 to 15 percent of real estate applicants have criminal convictions

By BECKY GILLETTE  Starting July 1, regulations went into effect that were passed by the Mississippi Legislature to provide more protections for consumers by requiring real estate agents in Mississippi to have fingerprinting and a background check before being licensed. Mississippi Real Estate Commission Administrator Robert Praytor said background checks are showing about ten to 15 percent of applicants have some ...

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The Lofts at 517 giving people reasons to come to downtown Greenville

By BECKY GILLETTE GREENVILLE — In recent years Delta communities have been losing population as many young people move elsewhere for employment opportunities. A new development in downtown Greenville, The Lofts at 517, is being designed to create a synergy to bring back not just the downtown, but former residents. That is what is happening with Allen and Erin Sanders, who ...

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Gulfport hopes rule change means more downtown dwellers

If you want to live in downtown Gulfport, the city hopes to make it easier. Builders until now have needed permission from the Planning Commission for homes or apartments downtown. The city council at its meeting Tuesday voted unanimously to do away with that rule. City officials estimates fewer than a dozen people live downtown south of the railroad tracks, ...

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Storefront maker moves fabrication to Waveland

By LISA MONTI Infinity-AP is moving its custom storefront fabrication operation from Chalmette, La., to the vacant 84 Lumber location off U.S. 90 in Waveland. Co-owner Rick Bradley said the goal is to open in early 2017 with up to 15 employees. The company designs, engineers and fabricates custom storefronts for international retailers. Bradley said their best known customers are Abercrombie ...

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COMMERCIAL FINANCE 701: Zoning – trust, but verify, authenticate & insure

Zoning plays a critical role throughout the life of a commercial development.  In terms of reviewing zoning status, the Reagan-adopted “trust, but verify” adage should come to mind.  Zoning, however, can be quite complex and the more appropriate proverb might be “trust, but verify, authenticate and insure.” As the term is generally used, “zoning” refers to the approved usage of ...

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New Marriott Courtyard to be Madison’s second hotel

By BECKY GILLETTE A four-story, 125-room Marriott Courtyard being built by Kerioth Corp. near the Baptist Madison Campus will be just the second hotel inside the city limits of Madison. “Madison is a growing sub market in the Jackson metropolitan area,” said Clint Herring, president and CEO, for Kerioth. “It is underserved from a hospitality perspective right now. The new ...

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HUD deal will force Ridgeland to reverse course on affordable housing

By TED CARTER Ridgeland’s strategy to significantly cut the number of multi-family rental units has backfired to now require city officials to promote more of the housing they sought to eliminate. An agreement that lets Ridgeland avoid Fair Housing Act violation penalties from the U.S. Department of Housing and Urban Development gives the City 180 days to give HUD an ...

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