SOUTHAVEN, MS (WMC) - A project unlike anything Southaven has ever seen is one step closer to reality. It's a $200 million mixed-use development called Silo Square.
The massive development will center around a 100-year-old silo and be built on 228 acres on Getwell Road between Goodman and Nail roads.
Memphis Business Journal real estate journalist Jacob Steimer said when completed, it may remind people of the town squares in Oxford and Collierville.
Groundbreaking on the project is expected within the next few months, but the entire project won't be completed for seven to eight years.
When the 700,000-square-foot project is done, it's expected to have 130 apartments, two hotels, a grocery store, multiple restaurants, and some retail and office space.
The developer on the project is Brian Hill, a DeSoto County native, who wanted to grasp the opportunity to build something special in his hometown.
"He's from Southaven. This opportunity to develop this piece of land came along, and he developed this plan for it," Steimer said.
The Southaven Board of Alderman approved the colossal project at its meeting Tuesday, and Hill is expected to finalize buying the land in March.
It's too early, however, to tell how many jobs it will create.
The silo that is located along Getwell Road will be preserved. The developer plans to incorporate the silo as a "central feature" of the development with the logo "Silo Square" painted on the roof.