Investment Opportunities Keep Downtown Revitalization Alive

Posted on Oct 30 2019

With a population of approximately 46,000, Hattiesburg, Miss. has a rich history and more educational, cultural, recreational, and business opportunities than many cities twice its size. Hattiesburg pride can be seen in its Historic Neighborhood District, which was named by the American Planning Association as one of the "Great Places in America" in which to live.

Now, Hattiesburg offers investment opportunities in the form of historic properties that are available for sale online. Historic properties in Hattiesburg offer many advantages to potential buyers, including:

  • Grants - Through Mississippi's Certified Local Government Program, cities, townships, and counties with qualified local historic preservation ordinances receive federally funded matching grants to be used for local preservation projects.
  • Tax benefits - Mississippi offers a 25% tax credit for the rehabilitation of historic structures used for residential or business purposes. Plus, there may be tax breaks available through the Federal Rehabilitation Tax Credit Program.
  • Solid long-term investment - Historic buildings are still viable because they are extremely well-built by craftsmen using old-growth wood for the frame and native hardwoods for the flooring.
  • Brings business to the community, and to your investment - One of the most rapidly growing segments of the tourism industry is "Heritage Tourism," which focuses on historic areas, sites, and structures.

In Hattiesburg, inventories online for historic buildings include these properties:

  • The America Building - One of two buildings comprising the Hub City Lofts offering, the beautifully designed America Building is a fully-leased 20-unit apartment structure with 4,052 feet of first floor commercial space in revitalized downtown Hattiesburg.
  • The Carter Building - The other half of the Hub City Lofts complex, this stunning, classic building bridges the gap between two architectural eras. The Carter Building has 32 fully-leased apartments and 8,658 feet of commercial space on the ground floor.
  • The Kress Building - A three-story mid-rise office building in downtown Hattiesburg featuring approximately 32,459 sq. ft. It is located within a Qualified Opportunity Zone and the new owner will have access to historical federal and income tax credits.
  • Forrest Tower - This nine-story office building is in an Opportunity Zone Location. It has approximately 61,072 sq. ft. of space, plus a 17,833 sq. ft. basement and 2,871 sq. ft. penthouse. Close to everything downtown and to the University of Southern Mississippi.
  • Regions Bank Bldg. - At three stories and 27,624 sq. ft., the Regions Bank Bldg. is located within a Qualified Opportunity Zone and the new owner will have access to historical federal and income tax credits.

All of these properties represent historic opportunities to invest in the hub of southern charm and culture.