Jackson Free Press

Jackson Developer David Watkins and the King Edward Hotel received some good news from the May 30 City Council meeting. The council voted 6-1 in favor of a resolution ratifying the redevelopment agreement between the Jackson Redevelopment Authority and developers HRI, New Orleans Saints running back Deuce McAllister and local attorney David Watkins. Ward 3 Councilman Kenneth Stokes voted against the agreement.

The project to recover the hotel has long been stymied by rotten luck and bad timing. Developers lost a $2 million BEDI grant earlier this year, after initially hearing from the city that the grant application was in order. The grant would have covered the entry level costs for assessing damages to the hotel, which has been closed and abandoned since the 1960s. Developers then pulled strings with Gov. Haley Barbour and Miss-issippi Development Authority head Leland Speed to get replacement funding sent through the Mississippi Legislature. Helped by a healthy state budget fueled by lucrative construction down on the coast, legislators passed the bill awarding the money.

Now, tax help in the form of federal (GO) Zone legislation for areas hit by Hurricane Katrina has sweetened the deal by making it easier for investors to make a profit from costly investments in the hotel.

Watkins said that the King Edward renovation was likely moving forward.

"We're thinking it will be built in time for the opening of the Convention Center if we stick to our current projection," said Watkins, who added that the development could only be derailed, at this point, by a serious foundation or structural problem.

"While we're ripping out trash from the building, we may find some water damage in some of the pilings, or some foundation problem that has pulled things apart to the extent that it could cost millions and millions of dollars to repair. … If we find a fault that will cost $15 or $20 million to repair, the project would be economically unviable, but that's highly unlikely," Watkins said.

Watkins said the hotel will eventually contain high-end condominiums, rental rooms and businesses, including clothing stores and a sushi bar. He also said he is looking into buying the Standard Life Building after the Jackson Police Department Administration moves to its new location.

"We'll need parking space for the King Edward. … The neighboring property can help with that," Watkins said.

Previous Comments

ID

66351

Comment

what hes thinking about tearing down the standard life biulding or suing it to do what for the hotel. for parking.

Author

WILLman

Date

2006-06-01T08:41:43-06:00

ID

66352

Comment

no, its a co-joined thing with Parking deck and the Standard is more condo's, if I am not mistaken. They enven talked about a second Condo tower. This was a while ago. But they have a master plan. They have a cool site about DT development. The whole thing is comprehensive for that end of Cap.

Author

ATLExile

Date

2006-06-01T09:32:18-06:00

ID

66353

Comment

We would NEVER tear down the Standard Life Building or even think about converting it to a parking garage! We HOPE that we'll be successful in our bid for the Standard Life Building for redevelopment as condos/apartments, though the JRA has not yet issued an RFP on the site. Nevertheless, that would allow us to better leverage the economics of scale during construction, with two adjacent projects on the same timetable. With the advantage of such leverage, we would hope to add a parking garage to the project, (rather than relying on the city to build approprate parking garage facilities for the block). That is our plan. The parking garage would either be built in the current parking lot (not garage) between the Std Life and King Edward or across the street with a covered walkway(s) joing the structures. David Watkins King Edward Revitalization Company

Author

Pops

Date

2006-06-01T09:59:11-06:00

ID

66354

Comment

The center of Jackson has a couple of good examples of every major period of American Architecture from the Greek revival on. That is what makes it so very unique. The Standard is “High” Deco and the King Ed is Late “Late” Beaux’s Arts. I hope those storefronts across from the King can be salvaged. I understand that they run the gamut from the Late 1870’s through the 1900’s. It’s funny because those are the styles that these strip center and new urban-ism dudes are trying to replicate. Noting some success but not like the real thing, by any means, as the scale is seldom correct on the new not to mention the odd "cartoonish" detailing. There is also plenty of future opportunity for good historically sensitive infill design on that end of Cap. The King Eddy district will be quite unique when all said and done. I love that old city.........

Author

ATLExile

Date

2006-06-01T10:27:40-06:00

ID

66355

Comment

My Great Uncle would be happy it's finally being used again.

Author

Ironghost

Date

2006-06-07T17:35:02-06:00

ID

66356

Comment

Will Mr. Melton please stop talking out of both sides of his mouth? I was appaled to read this in the Madison County Journal... "In Jackson, on the other hand, there is the Jackson State Parkway and the King Edward Hotel, an infrastructural as well as an economic problem that Melton says he “could solve with a hand grenade” even as he considers private investment to help renovate “that piece of trash.” Melton notes that in a revitalized area that includes the telecommunications facility and the upcoming Capital City Convention Center, the abandoned hotel is a major blemish on the city’s image, along with Farish Street, the other urgent infrastructure problem in Jackson." That "piece of trash"? I'd hoped Mr. Melton might be supporting the project by this time, but it seems that he is not sincere. Link to article... http://www.onlinemadison.com/main.asp?SectionID=1&SubSectionID=1&ArticleID=17145&TM=61508.09

Author

tombarnes

Date

2006-06-29T18:08:02-06:00

ID

66357

Comment

No edit feature? Appalled. I really can spell.

Author

tombarnes

Date

2006-06-29T18:09:05-06:00