Mississippi city sells land as part of redevelopment effort
TUPELO, Miss. (AP) — A northeast Mississippi city is selling land to two developers as part of a continued effort to revitalize rundown areas.
The Northeast Mississippi Daily Journal reports Tupelo is selling four lots for $14,544. The CLRS Investment Group will have one year to build a single-family home on each lot. Each must meet the architectural standards of Tupelo’s Mill Village historic district.
The city is selling 8.5 acres (3.4 hectares) in another neighborhood to a developer for $300,000.
The city has purchased and torn down several apartment complexes, with 80 homes overall set to replace them.
Officials say that another apartment complex purchased by the city will be emptied of tenants as leases expire. Once it’s empty, the city will demolish it and use the land to expand a park.
Information from: Northeast Mississippi Daily Journal, http://djournal.com