Summary:
- Mississippi developers Desai Companies and York Developments plan a $45 million Sandcreek Redevelopment Project in Oktibbeha County, featuring a 100-room Home2Suites hotel and 504-bed student housing on a 21.6-acre site behind Walk-On’s and La Quinta Inn.
- The project seeks up to $3.35 million in tax increment financing bonds from city and county authorities to fund infrastructure improvements, including a new 1,367-foot road and Pat Station Road upgrades; bonds will be repaid over 15 years from new property tax revenues generated by the development.
- Expected to create 75 construction jobs and 33 permanent positions, the development aims to increase annual property tax revenue significantly—from minimal current levels—to over $1 million combined for the city, county, and local school district, with potential for further expansion pending infrastructure support.
Original article:
https://cdispatch.com/news/45m-hotel-student-housing-project-proposed-for-old-city-lagoon/
