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CottonMill Marketplace developers taking next steps

cotton_mill_artist_rendering.jpg

Artist rendering from http://www.cottonmillatmsu.com

The CottonMill Marketplace project in Starkville is moving forward, according to articles in two local newspapers.

You will recall that in October the Board of Trustees of Mississippi's Institutions of Higher Learning gave approval to a Mississippi State proposal to advance the multi-phase project, which includes a convention center, hotel, restaurant, and office and retail space on a parcel of land between Russell and Spring streets across Highway 12 from the university.

The Cotton Mill Development Group will “purchase land adjacent MSU's Cooley Building for $2.8 million and enter into a lease agreement with MSU for the Cooley Building for $300,000 per year. The facility will be renovated and converted into a conference center and 37,000 square feet of office space. The Cooley lease agreement is for 41 years with the property then reverting back to MSU. The Group will also pay Mississippi State up to $850,000 in relocation costs related to operations currently run out of the Cooley Building. Research centers at MSU are expected to lease space in the facility,” a University Relations news release stated.

Read more about the next steps developers are taking in today's online editions of the Starkville Daily News and The Commercial Dispatch.

UPDATE, 12/16/10 — The Starkville Daily News has another Cotton Mill story in today's edition. It details the design changes developers have made to Mississippi State's historic Cooley Building, as well as how the project's financing is coming together.

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This page contains a single entry from the blog posted on December 9, 2010 3:15 PM.

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