Gulfport Port Expansion To Benefit Housing

GULFPORT, MS - The $1.6 billion port expansion plan at the Port of Gulfport, which includes the construction of one of the county's largest container terminals, is seen to boost housing demand in Mississippi especially in coastal areas near the port heavily devastated by Hurricane Katrina in 2005. "More than ever now the Gulf Coast area is in need of new housing and with the proposed port expansion now confirmed this is the very best time to invest in property projects," Danny Silver, principal of Property Direct America.

He added: "Healthy rental returns are to be expected and with 90 percent loan to value mortgages available, this is an opportunity not to be missed."

Silver's statement supports the Mississippi government's move to proceed with the "Port of the Future" project in Gulfport to catalyze economic growth in the area. Several groups are opposed to the port project opining that the funding should have been earmarked for housing as the region is in need of 25,000 new homes.

Property Direct America are among the property developers involved in housing projects in the area. Its project is the Bayside Park, a housing project for local workers that would build strong, energy-efficient homes.

The "Port of the Future" plan will expand the existing port from 210 acres to nearly 1,000 acres. The expansion of the port will be further towards the south of its present location. The pier will be strengthened and elevated from 10 feet to 25 feet above sea level to protect the port from strong hurricanes. The project includes transforming the current port area into a commercial-tourism center with a beachside promenade, shops and restaurants.