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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


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King Edward, Standard Life, Farish Street and Whitney Place

David Watkins

Investing in the Future

President, Watkins Development, LLC

Principal, Watkins & Young PLLC


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Ich bin einJacksonian!


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King Edward Hotel Redevelopment

And

Standard Life Building Renovation

King Edward Hotel Revitalization Company LLC

July 17, 2008


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PARTIES INVOLVED IN THE PROJECT

  • Development Partners:

    • HRI Properties (New Orleans)

    • David Watkins (Jackson)

    • Deuce McAllister (Jackson)

    • Leroy Walker (Jackson) (Standard Life only)


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My Partners and my main shareholder


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My other main shareholder


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Hilton Gardens Inn at the King Edward – Summer, 2009


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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


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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)


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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


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King Edward 10-Year Fiscal and Economic Impact


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PHYSICAL REDEVELOPMENT PLAN

Site Plan


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PHYSICAL REDEVELOPMENT PLAN

  • First Floor

  • Lobby

  • Registration

  • Restaurant

  • Bar

  • Coffee shop

  • Gift shop


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PHYSICAL REDEVELOPMENT PLAN

  • Second Floor

  • Meeting rooms

  • Grand Ballroom

  • mezzanine/balcony . reopened


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PHYSICAL REDEVELOPMENT PLAN

  • RooftopPatio

  • Pool

  • Fitness Center

  • Entertainment . Area


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In Partnership with Watkins Development, LLC,

McAllister Enterprises, LLC &

LTM Enterprises, Inc.


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Standard Life Apartments – December, 2009


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Mill Street Farmers Market, Art Galleries and Sidewalk Coffee Shop


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MILL STREET VIADUCT IMPROVEMENT & MARKET


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Farmers Market Cafe


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Farish Street Entertainment District


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Farish Street


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Farish Street Plan


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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!


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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


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Farish Street Group LLC


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Town Creek Restoration

The Riverwalk


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Riverwalk


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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


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Jackson Mississippi Downtown Redevelopment

A City with Soul


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Fondren’s New Face

Whitney Place


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Whitney Place


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Investing in the Future!

Web, 5

Douglas, 3


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Logos


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JacksonMississippi

City With Soul


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