Charleston Based Developer Kassinger Development Group, Announces Mixed-Use Project in Jackson, Mississippi with SKD Development, LLC
May 28, 2014
CHARLESTON, SC – Kassinger Development Group is pleased to announce with SKD Development, LLC, the final approval to move forward on the Meridian at Fondren. This project will be a mixed-use development located on property owned by the University of Mississippi Medical Center (UMMC), located on the north side of Lakeland Drive, across from the UMMC campus in Jackson, MS. SKD Development, LLC is a partnership between Jackson, MS based Stewart Speed Development and the StateStreet Group, and Charleston, SC based Kassinger Development Group.
Plans for the Meridian include up to 240 first-class apartment homes, parking, landscaping and about 3,500 square feet of street-level retail space. The Fondren neighborhood is walkable and enjoyable and will be be a great addition to the community and UMMC personnel.
“This exciting partnership and project is planned to influence and transform the Fondren neighborhood and its healthcare corridor, with a uniquely designed mixed – use building for high quality living,” said, Tyler Kassinger, with Kassinger Development Group. Following a competitive and lengthy proposal process, UMMC partnered with the private group SKD Development, LLC which will lease the 4.4-acre property from the Medical Center. Tyler Kassinger worked closely with the SKD team throughout the proposal process to help pull this project together – “I am very excited about the Meridian becoming a reality, as a first of its kind development to the Fondren neighborhood and the UMMC community”.
Earlier this year the Mississippi State Legislature passed, and Gov. Phil Bryant signed Senate Bill 2803, allowing UMMC to lease the property to the developers for up to 40 years with two, 20-year optional renewals.
SKD Development, LLC is responsible for razing seven current buildings on the site, financing, construction oversight, and apartment, office and retail leasing and management.
Meridian at Fondren is anticipating to start site preparation later this summer. The project’s total cost is estimated to be between $30 and $32 million.
