Happy Monday! For today's MONDAY MARKET UPDATE we will be focusing on some new projects in the works and a few that will be coming down the pipes! We want to keep you in the know of what's happening on the Coast so keep reading to find out more...
In a recent Sunherald article, building permits for family fun attractions were the focus and an astounding $135 million in new attractions are currently underway! "It's already been a big year for new attractions in South Mississippi and lots more fun is on the way.
More than $135 million in building permits were issued for the first 6 months of 2018 and the largest project are all family attractions.
Leading the way is a $51 million construction permit for the Mississippi Aquarium in Gulfport... Among the indoor and outdoor exhibits will be the "Gulf Tunnel," a 30-foot long tube that will surround visitors with sea life. The aquarium is expected to open in late 2019 or early 2020, according to the attraction's website."
Also worth mentioning are the new laws passed that will allow for our Casino to offer sports betting as of July. Chief Executive officer of Visit MS Gulf Coast, Milton Segarra was quoted regarding this offering as "Proving we're a very diverse and welcoming destination."
One other big announcement was from the Margaritaville Resort in Biloxi with their $140 million investment to build an amusement park and a second hotel tower in East Biloxi.
All of this is in addition to many new business such as Water's Edge Swimwear in downtown Ocean Springs, restaurants, and improvement to our local schools.
Great growth like this in industry we feel will certainly continue to drive the housing market, leading to homes selling more quickly in our community.
Please keep us in mind for your real estate needs!
Source: April Cook, Realtor - Rain Residential