Progress Report #2
By King Edward Revitalization Company LLC
Friday, September 28, 2007
As promised, work has now begun on the final phase of the reconstruction of the King Edward Hotel!
Over the last several weeks, we have received most of the final governmental approvals required to begin the work on the King Edward Hotel. The Jackson City Council and the Hinds County Board of Supervisors agreed to move forward with the King Edward/Standard Life TIF Plan to provide infrastructure funding for the project. The City Council agreed to approve the Hotel Tourism Incentive Rebate Plan. The project has also secured approval of the local historic preservation commission, the Mississippi Department of Archives and History and the National Park Service, all prerequisites to beginning work.
The $115 million project includes a 186 room Hilton Garden Inn, a signature restaurant, bar, coffee shop, and a gift shop. The top 4 floors of the King Edward will house 56 up-scale apartments, while the Standard Life Building will accommodate another 56 units. The garage will provide 200+ spaces for tenants, guests and the public. The project will take 18 months to complete, thus look for a grand opening of the Hotel in the summer of 2009, though the Standard Life phase will not begin for several more months.
Look for continued updates on the progress of this exciting new development. For more information, contact David Watkins at david@watkinspartners.com or 601-354-3660.
