Historic King Edward Hotel

Location	Jackson, Mississippi	Construction Start Date	February 2008
NMTC Investment	$15 million	Total Project Cost	$89.51 million

Click on photo to see additional images of King Edward

National New Markets Fund´s investment into the Historic King Edward mixed-use project will support the conversion of this historic property into a magnificent mixed-use urban center. The project is expected to be a beacon of Jackson, Mississippi´s downtown redevelopment.

All of the historic spaces and many of the historic architectural features of the hotel will be intricately restored back to their original grandeur including the lobby, rotunda, pre-function spaces and its neo-classical exterior facade. Johnson Controls Incorporated is working on behalf of the National New Markets Fund to bring sustainability and environmentally friendly consulting services to the project.

Project attributes and Impacts
Poverty Rate	53.5%
Average Median Income	36.1%
Unemployment Rate	21.1%
Economic Output (Construction)	$41,939,348
Employment (Construction)	411
Employee Compensation (Construction)	$11,155,752
Combined State and Local Fiscal Impact (Construction)	$2,227,013
Economic Output (Operation)	$8,889,312
Employment (Permanent Jobs)	131
Employee Compensation (Operation)	$2,848,304
Combined State and Local Fiscal Impact (Operation)	$1,106,376

Downtown Jackson´s redevelopment includes the construction of a 265,000 square foot convention center located two blocks from the project, a new Class-A office building (Jackson Place), the construction of a new Federal courthouse and a resurgence of ground level retail. The revitalization of the Historic King Edward Hotel will be an important component of the overall transition of Downtown Jackson.

The Historic King Edward mixed-use project will provide a much needed boost to the local economy, in terms of physical revitalization, eradication of blight, the introduction of new jobs, the infusion of outside revenues into the local economy. Mississippi Governor, Haley Barbour, has publicly praised the partners in the project for their persistence and creativity in funding the $82 million development.

• Below market interest rates
• Federal historic tax credits
• Interest only loan periods
• State of Mississippi New Markets Tax Credits
• Bond financing