New high-end lofts could be on their way to Fondren
JACKSON, Miss. (WLBT) - New high-end housing could soon come to the Fondren area.
Just last month, WLBT told you about an investor recently buying the old McRae’s building on Meadowbrook Road.
Right now, it sits empty and vacant, but that could soon change.
PraCon Global Investment Group bought the building and is now looking to tear it down, turning it into a housing development project.
“It’s going to be a $60 million investment, 215 high end lofts,” said Gabriel Prado, CEO and President of PraCon Global Investment Group.
Prado said he’s excited about what this project could bring to north Fondren.
On Wednesday, he spoke to residents and business owners in the area to unveil his plans.
“It is going to be a four-story building with two courtyards, a swimming pool, fitness center, just everything that the renters and tenants will need to have a great environment for living,” Prado described.
“I’m excited about it,” said David Luke who lives and owns property in the area. “I’m glad to see that they are trying to bring positive development to our area.”
Luke was one of the residents in attendance during the public hearing on Wednesday.
He believes this project will will breathe new life into North Fondren.
”It’s going to increase not only the property value of my home and several homes in the area, but the street improvements to Meadowbrook (Road) is something that we are all looking forward to,” Luke expressed.
”This is going to have a great social impact in the neighborhoods, the community, and for the neighbors,” said Prado.
While Prado and residents believe this project could help rejuvenate the area, the next step is for city leaders to vote on whether to approve the proposed plans.
“We are going to go in front of the planning board next Wednesday, and then on April 18th we will go in front of the mayor and all of the councilman,” said Prado. “We have great hope for this project to come into fruition. This is going to be in the benefit of everyone in the surrounding areas.”
If the project gets approved and everything goes according to plan, Prado said construction on this project could start as early as this September.
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