Jackson Mississippi

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JacksonMississippi

• City With Soul

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David Watkins
King Edward, Standard Life, Farish Street and
Whitney Place
Investing in the Future

• President, Watkins Development, LLC
• Principal, Watkins Young PLLC

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Ich bin ein Jacksonian!
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King Edward Hotel Redevelopment And Standard
Life Building Renovation
King Edward Hotel Revitalization Company LLC
July 17, 2008
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PARTIES INVOLVED IN THE PROJECT

• Development Partners
• HRI Properties (New Orleans)
• David Watkins (Jackson)
• Deuce McAllister (Jackson)
• Leroy Walker (Jackson) (Standard Life only)

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My Partners and my main shareholder
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My other main shareholder
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Hilton Gardens Inn at the King Edward Summer,
2009
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PROJECT COSTS

• Total Development 124 million
• King Edward 89 million
• Standard Life 35 million
• King Edward Project contractor is Clayco, Inc., a
  nationally-known, design-build construction firm
  using local subcontractors for all work on
  project
• White Construction is contractor for Standard
  Life project

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PROPOSED USES OF THE PROPERTY

• Mixed-use Residential, Hotel and Retail with
  associated parking
• Residential
• Top 4 floors of the King Edward Hotel building
• Approximately 56 Units 1 BR and 2 BR
• Floors 3-18 of Standard Life Building
• Approximately 64 units 1 BR and 2 BR
• Potential of 12 additional units as alternate use
  of Annex buildings
• Hotel King Edward
• Hilton Gardens Inn flag with 186 rooms on floors
  3 through 8
• Conference facilities located on the second floor
• Hilton Evolution (luxury) FFE package for
  urban hotels (plasma TVs, etc)
• Signature Bar and Restaurant
• 2 swimming pools (one in basement one on rooftop)

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PROPOSED USES OF THE PROPERTY

• Retail
• Approximately 3,000 square feet in KE and 3,400
  in Standard Life
• Coffee shop and gift shop currently proposed in
  King Edward
• Signature restaurant and bar in lobby of KE
• Parking
• renovation of existing garage use of Standard
  Life parking lot with possible expansion for low
  level parking garage
• Greenspace
• Interior courtyard with connected
  terraced/landscaped valet entrance from Capitol
  Street, additional exits at Roach and Pearl
  Streets

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King Edward 10-Year Fiscal and Economic Impact
Private Investment 83.7 million
Economic Impact 181.1 million
Increased Personal Income 87.9 million
New Jobs created 293
Increased Tax Revenue (sales income) 18.4 million
Increased Local Revenue (sales Property) 6.3 million
Increased School Taxes 4.7 million
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PHYSICAL REDEVELOPMENT PLAN
Site Plan
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PHYSICAL REDEVELOPMENT PLAN

• First Floor
• Lobby
• Registration
• Restaurant
• Bar
• Coffee shop
• Gift shop

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PHYSICAL REDEVELOPMENT PLAN

• Second Floor
• Meeting rooms
• Grand Ballroom
• mezzanine/balcony . reopened

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PHYSICAL REDEVELOPMENT PLAN

• Rooftop Patio
• Pool
• Fitness Center
• Entertainment . Area

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In Partnership with Watkins Development,
LLC, McAllister Enterprises, LLC LTM
Enterprises, Inc.
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Standard Life Apartments December, 2009
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Mill Street Farmers Market, Art Galleries and
Sidewalk Coffee Shop
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MILL STREET VIADUCT IMPROVEMENT MARKET
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Farmers Market Cafe
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Farish Street Entertainment District
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Farish Street
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Farish Street Plan
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Farish Street

• Entertainment, historic, tourist, cultural venue
• Vision and Scope of project expanded
• Emphasis on Culture, Music, Food and TELLING THE
  STORY OF JACKSON MISSISSIPPI!

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PROJECT SUMMARY

• Total Development Costs 52.5 million
• New Jobs Created 680
• Ten Year Revenue Impact 200 million
• Projected Timetable
• Commence Construction 90 days
• Complete Construction of first block 12-16
  months
• Complete Construction of second block 2010

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Farish Street Group LLC
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Town Creek Restoration

• The Riverwalk

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Riverwalk
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Town Creek Restoration

• Relocation and restoration of Town Creek,
  currently running under the city
• Greenspace, Parkways, bike/walking trails
• Development of creek site (Riverwalk style)
  condominiums, town houses and apartments
• Underground parking garage facility nearby
• Other recreational development opportunities

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Jackson Mississippi Downtown Redevelopment

• A City with Soul

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Whitney Place

• Fondrens New Face

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Whitney Place
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Investing in the Future!
Web, 5 Douglas, 3
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Logos
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JacksonMississippi

• City With Soul