Hope became a reality in Jackson Thursday as developer Gabriel Prado, Mayor John Horhn, and local bigwigs broke ground on the $50 million Prado Lofts project on Meadowbrook Road.
Prado Lofts will be built on the site of the old McRaes store that was demolished several years ago.
Prado Lofts will have 215 living units, a swimming pool with cabanas, dog wash facilities, a walking trail, and study lounges. It will target the professional, medical, and college communities.
Hall Structured Finance, LLC in Dallas is financing the project. Prado said it will take approximately fourteen months to finish the project. Construction equipment is already attacking the site.
The freezing weather did nothing to dampen the enthusiasm as speaker after speaker buzzed with excitement. A tent packed with Jackson's finest stood where shoppers once roamed as speaker after speaker lauded Prado for his vision.
"Jackson is rising," exclaimed Mayor John Horhn as he lauded Prado's progress (7:20 in video). Hizzoner joked about Prado's endorsement of his candidacy for Mayor last year, "I got so excited I said, Gabriel, you don't have to worry about the endorsement. I want the endorsement but bring the development. That's what we want."
"Jackson, Mississippi can compete with anybody. It is a great day to be in Mississippi. Prado Lofts is the start of the Renaissance of the city of Jackson" announced Prado (20:50). "Prado Lofts represents an inspiration, of never giving up," said the developer.
Prado's team will transform the site from this.....
into this:
27 comments:
Prado is going to learn the hard way
so how much is this Prado worth? His name keeps showing up on buildings.
I preface this comment by saying I want to see Jackson do well, but I don’t see how in the world a finance company that did their homework signed up for this.
I'm told this guy's real smart. No way he's using his own $$ to do this.
A future target rich environment for Jackistan's finest thugs.
He was going to name it The Lofts at SoDoSoPa, but that name was already taken.
Playing with somebody else's money….
How many palms were greased to get this approved?
So what are they going to do about all of the drag racing and the gunshots I hear in that area?
He’s not worth much at all.
The mayor and council need to fix that creek right behind this development or he will be filming “a river runs through it…part dos”
This site will require 24/7 armed security during construction due to thefts, etc. After construction it will need the same, plus quality security cameras.
Good news for Jackson and love the enthusiasm. New Mayor is working hard to overcome a stacked deck against him and his administration. He is 'partly correct' in his statement that "Jackson can compete with anybody"; NE Jackson can, but until the city does something with the blight and gang violence in the South and Western parts of the city, the competition does not exist.
Prado's hope that this is the Start of a Renaissance of the CIty is facing the same problem; yes, this is the start of the renaissance for this section, helping bridge the southern part of Fondren and the parts of NE east of I55 into other salvageable areas, there is a large expanse to cover before the Renaissance can be accomplished.
" PraCon Global Investment Group
Venture Capital and Private Equity Principals
Jackson, Mississippi 194 followers
PraCon Global Investment Group invests capital in transformational companies
About us
PraCon Global Investment Group invests in undervalued assets and transformational companies in the verticals of Finance, Agriculture, Technology, Energy, Real Estate, Healthcare, and Automotive. Our approach is simple. We are looking for Startups, Mature Firms, Portfolios of Assets, and Individual assets that are innovative and within our verticals. If you think that investing capital in your venture will produce a transformational company, please reach out to us.
Website
https://www.praconglobalinvest.com/home
Industry
Venture Capital and Private Equity Principals
Company size
11-50 employees
Headquarters
Jackson, Mississippi
Type
Privately Held
Locations
Primary
3220 N State St
Jackson, Mississippi 39216, US
https://www.linkedin.com/company/pracon-global-investment-group
Why have several Jackson mayors only focused on downtown and ignoring the rest of Jackson
Can the walks stop stray bullets? Not joking here. Several people in Jackson have been killed in Jackson in there own home from stray bullets
Until Jackson does something about crime and schools. None of this will matter
When I think of "luxury living," I think of the corner of State St and Meadowbrook, next to a CVS, the Murder Shell, and a Pigly Wiggly.
Said noone ever.
I think this place will be a great attraction for joggers. Especially the type joggers who jog around 2 AM wearing Timberland boots.
A creek in Jackson? More like filming On Golden Pond part Deux (Deux)
I suspect there are some real sketchy shenanigans going on behind the scene.
Look at all those democrats; better him than me.
None of those pictured will be able to afford to live there.
Economics, demographics and crime will soon take its toll on this development.
Just what Jackson doesn't need. More 400 sq ft 1bed/1bath apartments for $2000/month.
Interesting, 1:14. That address is also tied to WeBase Management Solutions (the manager, Patricia Oluade, works/worked at Ms Dept of Health and is listed at that address).
There are 8 PraCon organizations listed with SOS.
Gabriel P Contreras is tied to several of the PraCon organizations as well as manager for:
346 Crossgates LLC
DMG Company LLC
DMG Real Estate Holdings 1200 Northside LLC
DMG Real Estate Holdings 319 Meadowbrook LLC
DMG Real Estate Holdings Belhaven LLC
DMG Real Estate Holdings Cypress Lake LLC
DMG Real Estate Holdings Fondren LLC
DMG Real Estate Holdings SBC LLC
DMG Real Estate Holdings State St LLC
DMG Real Estate holdings TG LLC
DMG REH 4301 N State LLC
DMG Staffing and Consulting Holdings LLC
FH Development Company LLC
Fitnetwork Retail LLC
GAPC Global Group LLC
GAPC Senior Living LLC
P Lofts Development SPE LLC
PBM Real Estate Holdings LLC
PL Development Company LLC
PraCon MS Fund I LLC
PraCon Prado Lofts Fund I LLC
PraCon Southeast Fund I LLC
Prado Vista Real Estate Holdings LLC
Remodels Inc.
Remodels Inc.
TG MS Coast Development LLC
TG MS Ridgeland Development LLC
TJ Development Company LLC
2;28PM Don't worry about that $2000 a month rent. In about 8 to 10 years {if not sooner} Section 8 will make it affordable.
I think it's a great initiative, but as many have stated, the crime must be under control. In parallel, the Mayor needs to be beefing up JPD and holding the judiciary accountable (as much as he can, and by calling them out). There are maybe what, 1-2,000 thugs doing most of the crime? Get them off the streets and put away, and it will very quickly transform large pockets of the city. Cocoa with the PoPo ain't gonna cut it.
Post a Comment