Friday, March 16, 2018

Introducing the Lamar Life Lofts.....

The Lamar Life Building is reborn.....




24 luxury apartments plus retail in what will be a mixed-use building. The project is financed by HOPE.  There will be a covered walkway to the parking garage of the Capitol Towers on the second floor.

74 comments:

Anonymous said...

Who/ what is HOPE?

Anonymous said...

I've always considered this building as one of the most impressive in downtown Jackson, and have always wondered why no one seemed interested in its renovation. I'm glad to see it being brought back into use.

Anonymous said...

apartment lease should come with a free concealed gun permit.

Anonymous said...

Love it! Now if the Landmark building can get off the ground with its apartments, that'd be great.



Anonymous said...

HOPE is big time.... https://hopecu.org/

Anonymous said...

https://hopecu.org/

Anonymous said...

3:33 A LOT of hoops to go through on a historic building.

Anonymous said...

Retail? Does that include a blues club?

Or two?

Anonymous said...

Fantastic! I love seeing those old beautiful buildings come back to life.

Anonymous said...

What's the link to the Lamar Life Lofts website?

Anonymous said...

Break out the daiquiris!

Urban Development 101 said...

In two years, it will be another low-income, rent subsidized housing building. Jackson developers are only interested in buildings that they can get tax credits for such as historic tax credit, LIHTC, etc. In 15 years, the developer will sell the building to the highest bidder.

Anonymous said...

Will the covered bridge to the parking garage be complete by fall? That seems pretty aggressive, and given the situation in Miami, they may want to take their time.

Anonymous said...

Fortune teller, are you, 5:06? Do tell what in the world you know about development and Jackson developers in particular? Your negativity isn't needed. Pretty sure I recognize you.

jtmjxn said...

Is that hope credit union financing this? Shaky at the best if so

Anonymous said...

This is more great news for our capitlal city. We are going to make it. Late for sure but nonetheless make it.

Anonymous said...

8:14. Sigh. HOPE. Shaky. Right. Stupid shit.

Anonymous said...

Lipstick on a pig. Residents will get tired of the homeless right outside the door. Tire of their cars getting broken into. This will go the same way as everything else in Jackson.

Anonymous said...

Well why do you live here in that shitty apartment....Move!

Anonymous said...

If these lofts were in Madison or Rankin, they would be totally awesome. Does that make you fill better 8:39, 8:56, and 9:17?

Anonymous said...

@9:34

You're probably right. But then again, we don't have to worry about getting mugged when walking down the street, and don't have a homeless problem. Oh, and we don't allow apartments, because of the type of people they attract over time.

Anonymous said...

9:17, are you speculating here or do you actually know that for a fact?

I've lived downtown for two years. The homeless don't bother you, for the most part. The one barrier to living downtown is a host of pedestrian-friendly services. We need a drug store, grocery store and more eateries that stay open past lunch hours for downtown living to truly work in Jackson. It's my understanding that we had 600 apartment units that could open within the next two years, but some are stalled because the Legislature put a cap on those tax credits, which stalled two developments.

You've got the old Federal Courthouse, the Edison-Walthall, the Deposit Guaranty building, Regions, the Landmark, and now Lamar Life Lofts, which will join King Edward, Standard Life, Electric 308, the Plaza and the Capitol Art Lofts.

These residents need services which will encourage pedestrian-friendly environments.

Anonymous said...

No way Mary Hawkins would allow these lofts in Madison, so that doesn't make me fill better.

Anonymous said...

Overlooking historic Kenny’s House.

PittPanther said...

What happened to the conversion of the old Eastland courthouse? No progress there for years!

Brother Can You Spare A Twenty? said...

This tells me all I need to know:

"I've lived downtown for two years. The homeless don't bother you, for the most part." (It's that 'for the most part' that grabs my attention.)

"It's my understanding that we had 600 apartment units that could open within the next two years, but some are stalled because the Legislature put a cap on those tax credits, which stalled two developments. (Which confirms the earlier post reminding us that no investor would touch a plan like this without a time limited gift from the gubment, after which, it all turns back to dust.)

Anonymous said...

8:56, yes. Shaky. Check out their financial statements. Their activities lose money, and are kept afloat only by charitable contributions. Their last published financial statement shows $112 million in assets, over 100% of which is attributable not to shareholder investment or deposits, but to charitable contributions. They aren’t even very good at the their mission of providing chartibalbly subsidized low interest loans, as evidenced by receivables of less than $70 million. Shaky in terms of having the financial strength, experience, or backing necessary to finance significant commercial real estate investments? Yes. Absolutely correct.

Anonymous said...

Having or putting the name "Lamar" on anything is disgraceful...people are starting to figure out that the name Lamar is no different than the hate-filled name Vardaman recently taken off of an Oxford building. The name Lamar should also be erased from anyone's sight in having to be reminded of that heritage of hate that Oxford is so desperately trying to protect under the radar.

Anonymous said...

"The homeless don't bother you, for the most part."
For the most part. What does that mean? Every fifth time you venture out of your apartment? Aggressive panhandlers? How long until you look down the barrel of a nine? Or, have you already? No, thanks.

Anonymous said...

Good grief!
The provincials who have never lived in a city or studied urban development and can't understand why people like to live downtown are out in force this morning...and embarrassing themselves with their obvious ignorance.
I'm sure they are so disappointed the St. Paddy's Day parade will enjoy glorious sunshine.
Joy killers one and all

Anonymous said...

Just another example of a "big" Mississippi name that's intent on making millions off of the poor by disguising it as "helping" the community, but in reality it's a foregone conclusion that it will fail, but the corrupt inner circle at the top will reap millions and say, "We tried." full-well knowing the scam all along.

Anonymous said...

Hope just received a $30 million allocation of federal new market tax credits. https://www.novoco.com/sites/default/files/atoms/files/2017_nmtc_awards_book_021318.pdf

Anonymous said...

Those posting negatively are truly American heroes. Your contribution is overwhelming. What would we do without your cynicism? Thank you for taking time out of your schedule for this service

KF probably wont approve this one either... said...

“Farish Street will get done,” Kamikaze said. To increase the foot traffic in the area, Kamikaze has started Wednesday Lunch at Peaches.

Mississippi Business Journal, October 20, 2008

Hell of a plan. Maybe we need to have Thursday lunch at that Jamaican restaurant in the old Krystal. Maybe we'll see the same level of success that Dr. Crooked Lettaz had on Farish.

These lofts are just another ill-conceived plan. Downtown Jackson is full of them.

Anonymous said...

Just ignore the anonymous bitchers. They are unhappy with their lives, as witnessed by the eternal negativity from them concerning all things Jackson. When something good is announced in THEIR capital city, here they come in droves. Hey goobers....deal with it. This is good really good news.

Anonymous said...

A room with a view of bombed out West Jackson. I would live I in Bovina.

Anonymous said...

Hope just received a $30 million allocation of federal new market tax credits. https://www.novoco.com/sites/default/files/atoms/files/2017_nmtc_awards_book_021318.pdf

Anonymous said...

That is why it worked 11:36. So what is your point ?

Anonymous said...

10:05 you are as boring as a post. You drone on and on, month to month, year to year, bringing up things that didn't work out. Are you so ill informed that you don't remember what. Happened in 2008. Hint: THE ECONOMY CRATERED. Also, you are apparently living in a pup tent and don't get out much. Hint: downtown redevelopment is difficult.

There are many "failures" (as you and your childish herd allude to) in downtown redevelopment. Why do you harp on things that don't work out. Do you bring up the "idiots" at Entregy, that partnered in the defunct "Old Capitol Green". The bankers, the Feds , the city, county and state that partnered in the failed original "Farish Street Entertainment District"? No, like a little kid "wanting to win a childish argument", you ridicule those that try. Good Lord grow up. Downtown Jackson is going to continue its comeback, no matter how much you rednecks bitch and moan.

anonymous said...

HOPE is the real deal. 25 years old and growing every year. 200 employees and financing projects like Lamar across the Southern region. They know how to put together complex deals like Lamar life that use state and federal new market tax cre dots and historic credits. I want to move in when they're done

Anonymous said...

One of these days, Madison will have a nice apartment complex. You can’t just zone out apartments. Some day, a deep pocketed apartment investor will shove some up Mary’s ass. Let HUD get involved, which it will, because the developer will probably being looking for a non recourse loan. It might take five years, but it will happen. None of the local developers want to go up against the city because they probably have other property they want to develop.

Anonymous said...

Oh, and for anyone that has something bad to say about Downtown Jackson, people came from all over the metro area, and state, for a great afternoon today. Jackson did a thing and the people loved it.

You know who said...

I really don't know what the sneerers at Jackson, the indefatigable Madison cheerleaders, hope to accomplish. I have lived in both; I enjoyed my years in Madison County when country was country, not some hopped-up, nouveau-riche, traffic-clogged
suburb. I am now happily ensconced in one of "Jackistan's" lovelier neighborhoods, and find much to relish daily. I wholeheartedly hope the downtown will become a thriving residential area, with services and shops within walking distance from the repurposed old buildings like the Lamar Life. And everyone should hope this comes to pass...yes, even you faux-chateau dwellers in the former cow pastures. A thriving capital city benefits everyone.

The Truth Hurts said...

Question# 1: What is the AUTHOR'S main purpose for writing this article?

Answer: To show or inform Jacksonians that private investors WILL NOT INVEST in Jackson until said projects are funded by public dollars in the form of tax credits and/or grants. This includes New Market, Historic, LIHTH, Tourism, Community Development Block, Neighborhood Stabilization, and others.

As long as the City of Jackson's economic and redevelopment are DEPENDENT upon funding from private and public organizations that are DEPENDENT upon Federal and State government dollars which are DEPENDENT upon taxpayers money, true revitalization for Jackson will not occur.

Downtown Jackson, the Inner City/City Center, West Jackson, South Jackson, and parts of North Jackson ALL need urban redevelopment. Urban blight is not Jackson's only problem. Jackson has issues with infrastructure, quality housing, crime, high unemployment, poverty, underperforming schools, incompetent and corrupt city government, and inefficient public transportation to say the least. A couple of tax subsidized lofts will not fix Jackson's quality of life issues. The only people or entities that will profit and benefit from this boondoggle project are the developers, not the people of Jackson.

Cities across the U.S., particularly in the South, are booming due to an influx of PRIVATE INVESTMENTS. That's what Jackson needs!

Anonymous said...

Good things in Jackson spell trouble for suburbia. Their very existence is predicated upon “Jackson bad. South Grenada Cow Pasture good.”

Anonymous said...

Hey pissed off, demented poster at 5:46 IN THE MORNING. Since you are so up to speed on downtown redevelopment and Jackson is 25 years after urban renewal started, this should be as easy question. Name ONE urban area in ONE city that did NOT happen via use of tax credits in one form or the other. Memphis, Little Rock, Shreveport, Chattanooga, Nashville, Atlanta, Baton Rouge, GULFPORT, VICKSBURG, Pensacola, yada yada. Name ONE, being the wishful expert you are.

Anonymous said...

Keep howling at the moon 5:46. You are clearly clueless. Name one city in the South that didn't use tax credits to revitalize old buildings, and begin the restoration process. One. And links for proof. Just one. That's all..one.

Kingfish said...

I don't mind some tax credits. Face it. It is much cheaper and easier to plow up a bunch of green pastures and build. Nothing wrong with making it a little more feasible for developers to tackle renovating buildings that will require some serious work. Keep it cheaper to go out to the pastures will ensure that that is the only development that takes place. That will be bad for the environment and thus the world. Are you against the world?

Anonymous said...

And 9:28 every development in projects around our urban center (Downtown) utilized TIF bonds and some used the ridiculous "tourism sales tax rebate" (see "The Outlets" in Pearl). TIF bonds are generally unobtainable in a city's core. ALL the infrastructure, landscaping, lighting, parking, roads, surfacing was done using these TIF incentives. Small minded people like 5:46 are so predictable and ignorant.

These incentives project growth for the private sector. See Fondren for an example. Tax credits used for Fondren Corner and Duling School. BOOM....unprecedented private growth was birthed. The same WIIL HAPPEN downtown.

Anonymous said...

The majority of the people in Jackson receive some type of government subsidy.
All of the building in Jackson is because of government subsidies.
One day even the government will wake up and see it isn't a very wise use of our money.
Cities cannot depend on government subsidies for ever. One day the people will have to stand on their own two feet.

Kingfish said...

Hell, we can't build a totesum without making sure a TIF goes along with it.

Anonymous said...

Hwy 5:46. 8:53 here. I am still waiting for ONE example?

Anonymous said...

Hey pissed off, demented posters at 8:53 & 9:25 IN THE MORNING!

Name one just one U.S. state capital or major city that has experienced total urban renewal entirely with government assistance or subsidies, no private monies. We are not talking about one or two old buildings here. Jackson is a welfare city and Mississippi is a welfare state, too much of a risk for private investors and corporations without public subsidies.

I guess you believe that gentrification in cities like Atlanta, New Orleans, Nashville, Houston, Charlotte, and Austin, for example, all came from private developers waiting government tax credits or public assistance.

Do you actually believe that city governments that require or force private developers to set aside 5%, 10%, or even 20% of their housing units for low income residents or pay heavy fines are those same private developers awaiting tax credits? Most developers opt out and pay the damn fine.

One does not need to be an expert when it comes to common sense. Jackson residents are so desperate for someone to invest in the city, whether good investment or bad investment. Anything just to say, "Look Madison, Pearl, Brandon, Ridgeland, Canton, Flowood, Byram, Utica, Learned, Gluckstadt, Bolton, Edwards, Clinton, Terry, and Raymond! We got something too!"

Some people want you to prove to them that water is wet.

Anonymous said...

LOL @ March 18, 2018 at 9:49 AM What part of Fondren is booming? Is it the "white" part of Fondren or the "black" part of Fondren? Is not the neighborhood in fear of losing its historic designation due to urban decay and blight? You probably don't venture out west of State Street. Yep, booming alright with Section 8 housing.

Anonymous said...

Kingfish,

How many of your readers know what a Tote-Sum is? You are just trying to confuse things!!!!

Anonymous said...

10:49. You said all of that just to say no? I can't name even one.

Anonymous said...

12:06. Where is the section 8 housing?

Anonymous said...

10:49. Are you happy that the Lamar Life Building is getting refurbished. Yes. Or No.. One word answer. Yes or No.

Anonymous said...

I tried financing with Hope once, but the banker wanted collateral.

Anonymous said...

12:06. Where is the section 8 housing....liar.

Anonymous said...

@ 3:32 PM

Section 8 (Affordable Housing) funded via Housing Tax Credits awarded by the Mississippi Home Corporation

"A neglected block of homes west of State Street in Fondren has given way to an $18.5 million multi-family housing development. Restauranteur Jeff Good, whose Sal & Mookie’s New York Pizza and Ice Cream joint is just east of Taylor, Oxford and Downing Courts, says the perception of those properties has created some fear and doubt over time. He says, “(After meeting with the developer), I think we’re very excited about this activity in Fondren.”

"Downing Court’s 60 units include 14 one bedroom, 28 two bedroom and 18 three bedroom apartments; Oxford Court’s 55 units include 15 one bedroom, 25 two bedroom and 15 three bedroom apartments; and Taylor Court’s 48 units include eight one bedroom, 26 two bedroom, and 14 three bedroom apartments. Square footages are: 1 BR – 735 +/-; 2 BR – 860 +/-; 3 BR – 1000 +/-. Rents are: 1BR – $658; 2 BR – $792; 3 BR – $914."


Downing Court, Oxford Court & Taylor Court
404 Taylor St, Jackson, MS 39216 – Fondren

http://www.finditinfondren.com/2015/02/02/18-5-million-housing-development-fondren/

Anonymous said...

Duh 6:01. Keep up. That AIN'T Section 8. That is LITEC, A whole different animal. What a slow complainer you are. Do you know the difference and the difference in regs? Hell no you don't. You are too busy salivating at trashing your capital city....stupid shit.

Anonymous said...

@ 6:45 PM

Are you saying that residents with Section 8/Housing Choice Vouchers are not permitted to live in this low-income, multifamily housing complex? Are the rents prices not in the confinement of their vouchers? Are Section 8 tenants not low-income residents? Is LIHTC not a federal government/HUD program? Is Section 8/ Housing Choice Voucher not a federal government/HUD program as well? Is this housing development not a subsidized housing development mainly funded by HUD by tax credits?

LITEC-incorrect!

"LIHTC stands for Low-Income Housing Tax Credit. The Low-Income Housing Tax Credit (LIHTC) is the federal government's primary program for encouraging the investment of private equity in the development of affordable rental housing for low-income households."

"The housing choice voucher program provides assistance to very low-income families to afford decent, safe, and sanitary housing. Housing can include single-family homes, townhouses and apartments and is not limited to units located in subsidized housing projects."

Mark Twain — 'Never argue with stupid people, they will drag you down to their level and then beat you with experience.'

Anonymous said...

7:28...6:45. For the love of God STOP. Fondren is a textvook success of urban renewal nd no amount oh bigotry will change that. Now get back in the sandbox and play nice.

Anonymous said...

7:47 You're so wrong for labeling 7:28 a bigot simply because they layout stats and/or facts (proven or not) that you don't like. We'll hold off name-calling you.

Anonymous said...

9:18....Gotcha hahahaha

Anonymous said...

Is the District at Eastover government tax credit funded? Seems like a solid project which benefits the Jackson area.

Anonymous said...

12:23 a.m., the District at Eastover was public-private, and look how fast it sprung up. I'm not sure of the percentages, though.

I almost laughed out loud at the poster implying that a homeless person would pull a gun on someone on the street.

They can't afford guns. And that kind of deluded response is what you get when you make assumptions about place before truly living there.

Also, for those who want Jackson to fail (and constantly reiterate those points), know that your beloved Madison, Ridgeland, and Flowood will fail, too, because they're far too dependent upon the Capital City to survive on their own.

Seems that these bedroom communities are leeching off Jackson much like these posters say the city leeches off the government.

anonymous said...

@ 5:46....Lamar Life will have private investment along with new market tax credits, they all do. Federal new market credits will provide about one-fourth of the equity to a development. The rest comes from private funds- a loan that will be repaid.

Anonymous said...

1:15
Can't decide if you're naive or delusional to think that their aren't homeless people packing. Guns are cheap.
I guess that young woman that got shot in her car at State and Fortification would have preferred not to be in downtown Jackson.
Gangs, homeless. Both are in Downtown Jackson, and I don't need to be told that that is the price you must accept to live in a city.

Anonymous said...

Naysayer at 2:29. The tragic shooting of the young lady was around midnight, and not downtown....but if could have been. Downtown Jackson has not had a murder in years. The 66 blocks of the DJP BID are statistically the safest area in the state. Facts are stubborn things. Now spend hours coming up with some chicken shit rebuttal on your way to your strip center fast food restaurant.

Anonymous said...

It is so amusing how Madison yuppies obsess on all things Jackson. Do you people have no cousins or something else to dwell on? HEY REDNECKS! WE LIKE IT HERE, DEAL WITH IT. Rankin County people "keep their place". It is the yuppies from MC that amuse me...

Anonymous said...

Thanks, 5:42.

The only homicides we've had that are even close to downtown Jackson (as defined by the BID) in the last few years would be what we've had on Mill Street outside/at Freelon's: Shervondria Mack last year and Jessie James Newson before that.

But let's not let facts get in the way of a good story. 2:29's got people to scare.

Anonymous said...

The only reason there are no homeless people in Madison is because Madison residents are too selfish and too heartless to open shelters.

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