VICKSBURG, Miss. (WJTV) – Construction could soon begin on two condominiums at Washington Street Park and on land adjacent to the north side of the Vicksburg Convention Center on Mulberry Street.
According to the Vicksburg Post, the Board of Mayor and Aldermen approved conveying the properties to MidSouth Companies LLC of Ridgeland on Wednesday. City Attorney Nancy Thomas said the city could close the transfer of the properties within 30 to 45 days.
Under the agreement, MidSouth has four years to build about 20 condominium units on each property or the property will be returned to the city. The company also has the option to buy the property from the city if it fails to meet the development deadline under the agreement.
The project is expected to bring $157,000 annually in property taxes to Vicksburg.