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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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jackson mississippi

JacksonMississippi

City With Soul

david watkins

King Edward, Standard Life, Farish Street and Whitney Place

David Watkins

Investing in the Future

President, Watkins Development, LLC

Principal, Watkins & Young PLLC

slide4

King Edward Hotel Redevelopment

And

Standard Life Building Renovation

King Edward Hotel Revitalization Company LLC

July 17, 2008

parties involved in the project
PARTIES INVOLVED IN THE PROJECT
  • Development Partners:
    • HRI Properties (New Orleans)
    • David Watkins (Jackson)
    • Deuce McAllister (Jackson)
    • Leroy Walker (Jackson) (Standard Life only)
project costs
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
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 property11
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
physical redevelopment plan14
PHYSICAL REDEVELOPMENT PLAN
  • First Floor
  • Lobby
  • Registration
  • Restaurant
  • Bar
  • Coffee shop
  • Gift shop
physical redevelopment plan15
PHYSICAL REDEVELOPMENT PLAN
  • Second Floor
  • Meeting rooms
  • Grand Ballroom
  • mezzanine/balcony . reopened
physical redevelopment plan16
PHYSICAL REDEVELOPMENT PLAN
  • RooftopPatio
  • Pool
  • Fitness Center
  • Entertainment . Area
slide17

In Partnership with Watkins Development, LLC,

McAllister Enterprises, LLC &

LTM Enterprises, Inc.

farish street26
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
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
town creek restoration31
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
slide36

Investing in the Future!

Web, 5

Douglas, 3

jackson mississippi38

JacksonMississippi

City With Soul

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