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Jackson Mississippi . City With Soul. King Edward, Standard Life, Farish Street and Whitney Place . David Watkins. Investing in the Future. President, Watkins Development, LLC Principal, Watkins & Young PLLC. Ich bin ein Jacksonian !. King Edward Hotel Redevelopment And

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JacksonMississippi

City With Soul


King Edward, Standard Life, Farish Street and Whitney Place

David Watkins

Investing in the Future

President, Watkins Development, LLC

Principal, Watkins & Young PLLC


Ich bin einJacksonian!


King Edward Hotel Redevelopment

And

Standard Life Building Renovation

King Edward Hotel Revitalization Company LLC

July 17, 2008


PARTIES INVOLVED IN THE PROJECT

  • Development Partners:

    • HRI Properties (New Orleans)

    • David Watkins (Jackson)

    • Deuce McAllister (Jackson)

    • Leroy Walker (Jackson) (Standard Life only)


My Partners and my main shareholder


My other main shareholder


Hilton Gardens Inn at the King Edward – Summer, 2009


PROJECT COSTS

  • Total Development: $124 million

    • King Edward: $89 million

    • Standard Life: $35 million

  • King Edward Project contractor is Clayco, Inc., a nationally-known, design-build construction firm using local subcontractors for all work on project

  • White Construction is contractor for Standard Life project


PROPOSED USES OF THE PROPERTY

  • Mixed-use Residential, Hotel and Retail with associated parking

  • Residential

    • Top 4 floors of the King Edward Hotel building

      • Approximately 56 Units – 1 BR and 2 BR

    • Floors 3-18 of Standard Life Building

      • Approximately 64 units – 1 BR and 2 BR

      • Potential of 12 additional units as alternate use of Annex buildings

  • Hotel – King Edward

    • Hilton Gardens Inn flag with 186 rooms on floors 3 through 8

    • Conference facilities located on the second floor

    • Hilton – “Evolution” (luxury) FF&E package for urban hotels (plasma TVs, etc)

    • Signature Bar and Restaurant

    • 2 swimming pools (one in basement; one on rooftop)


PROPOSED USES OF THE PROPERTY

  • Retail

    • Approximately 3,000 square feet in KE and 3,400 in Standard Life

    • Coffee shop and gift shop currently proposed in King Edward

    • Signature restaurant and bar in lobby of KE

  • Parking

    • renovation of existing garage; use of Standard Life parking lot with possible expansion for low level parking garage

  • Greenspace

    • Interior courtyard with connected terraced/landscaped valet entrance from Capitol Street, additional exits at Roach and Pearl Streets


King Edward 10-Year Fiscal and Economic Impact


PHYSICAL REDEVELOPMENT PLAN

Site Plan


PHYSICAL REDEVELOPMENT PLAN

  • First Floor

  • Lobby

  • Registration

  • Restaurant

  • Bar

  • Coffee shop

  • Gift shop


PHYSICAL REDEVELOPMENT PLAN

  • Second Floor

  • Meeting rooms

  • Grand Ballroom

  • mezzanine/balcony . reopened


PHYSICAL REDEVELOPMENT PLAN

  • RooftopPatio

  • Pool

  • Fitness Center

  • Entertainment . Area


In Partnership with Watkins Development, LLC,

McAllister Enterprises, LLC &

LTM Enterprises, Inc.


Standard Life Apartments – December, 2009


Mill Street Farmers Market, Art Galleries and Sidewalk Coffee Shop


MILL STREET VIADUCT IMPROVEMENT & MARKET


Farmers Market Cafe


Farish Street Entertainment District


Farish Street


Farish Street Plan


Farish Street

  • Entertainment, historic, tourist, cultural venue

  • Vision and Scope of project expanded

  • Emphasis on Culture, Music, Food and TELLING THE STORY OF JACKSON MISSISSIPPI!


PROJECT SUMMARY

  • Total Development Costs: $52.5 million

  • New Jobs Created: 680

  • Ten Year Revenue Impact: $200 million+

  • Projected Timetable:

    • Commence Construction: 90 days

    • Complete Construction of first block: 12-16 months

    • Complete Construction of second block: 2010


Farish Street Group LLC


Town Creek Restoration

The Riverwalk


Riverwalk


Town Creek Restoration

  • Relocation and restoration of Town Creek, currently running under the city

  • “Greenspace,” Parkways, bike/walking trails

  • Development of creek site (Riverwalk style) condominiums, town houses and apartments

  • Underground parking garage facility nearby

  • Other recreational development opportunities


Jackson Mississippi Downtown Redevelopment

A City with Soul


Fondren’s New Face

Whitney Place


Whitney Place


Investing in the Future!

Web, 5

Douglas, 3


Logos


JacksonMississippi

City With Soul


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