Closed and vacant for some 40 years, the King Edward building today stands completely restored, offering 186 rooms under the Hilton Garden Inn and 64 luxury apartments on the top floors, representing a total investment of $90 million in Jackson's downtown.
The King Edward project is majority owned by HRI Properties of New Orleans, a pioneer and national leader in the adaptive reuse of historic structures and the revitalization of downtown centers. HRI partnered in the project with Jackson developer David Watkins and Jackson native, former New Orleans Saints running back Deuce McAllister.
The 64 apartments, 43 of which have already been leased, feature HRI's upscale residential amenity package that includes granite counter-tops; hardwood floors; fully equipped GE kitchens with microwave, range, dishwasher and refrigerator; ceiling fans and full-size washers and dryers in every unit.
Beyond access to hotel services, common area amenities include a rooftop pool and terrace with a large community room for private functions, state of the art fitness center, on-site property management and secure parking in the adjacent garage. Residents will be able to park in the garage with direct access to the apartment elevator lobby. The units will enjoy stunning views of downtown Jackson with large windows and 10-foot ceilings.
The King Edward apartments will soon be joined by another 76 luxury rental units in the adjacent Standard Life Building, which is also majority owned by HRI Properties. Standard Life apartments are being developed and managed as an integrated operating unit with King Edward. The Standard Life financing of $33.5 million increases the total investment in downtown Jackson to $123 million in the combined King Edward/Standard Life development.
The Design-Build contractor for the King Edward construction is Clayco Construction of St. Louis, MO, one of the largest privately owned construction firms in the U.S. The interior renovation of the hotel was designed by Forum Studio of St. Louis in conjunction with Thomas Hamilton & Associates of Richmond, VA.
The combined project has been made possible by the Jackson Redevelopment Authority, the City of Jackson, the Mississippi Development Authority, the Mississippi Business Finance Corporation and the Mississippi Department of Archives and History and Hinds County. Financing comes from Chevron Tax Credit Investments, Inc., Tax Credit Capital, Inc., Capital One Bank, Trustmark Bank, Whitney Bank, First Bank and Trust, First NBC Bank, National New Markets Fund, and the National Cities Fund.