The Fairpark District in downtown Tupelo will be the home of a multi-level building that will house commercial space as well as condominiums.
The Legacy Building as it’s called will take up 31,000 square feet and will be built in the heart of the Fairpark District. It has 10,000 square feet of commercial space and 20,000 square feet of residential condos.
TRI Inc., the developer and leasing team for the commercial space has targeted professional office and medical uses, and has one commitment from a medical tenant who has yet to be disclosed publicly.
The development team said the timing of the project is market driven, and will proceed to construction when the proper pre-leasing and sales activity – which is ongoing – is met. The developer is Cory Lee and partners; the leasing and sales team is TRI Inc for the commercial space and Jason Warren & Associates for the residential condominiums. No construction team has yet been chosen.
In May, the first of three planned buildings of the Fairpark Towers project opened. That project, valued at more than $12 million, got underway in 2017.
Fairpark Towers has been the latest addition to the Fairpark District, which got its start in 1999 as a 50-acre urban renewal development by the Tupelo Redevelopment Agency. The city of Tupelo issued $22.7 million in bonds to buy the property and to develop the infrastructure, with projections that private investment would eventually triple that.