Investment Highlights

Interior Value-Add Potential: New ownership will have the opportunity to increase rents at the property by renovating the interiors with updated:

  • Faux Granite Countertops
  • Black or Stainless Steel Appliances
  • Laminate Plank Flooring
  • Updated Cabinet Faces and/or Boxes
  • Brush Nickel Finishes

Value-Add Opportunity Via Amenities Upgrade: Village at Crossgates offers an expansive amenities package, providing new ownership with multiple value-add options, such as updating the clubhouse, fitness center, pool furniture, playground, dog park, or signage.

Additional Upside Potential: New ownership can also potentially take advantage of additional factors that could lead to increased property performance, which include:

  • Loss-to-lease burnoff of $40 per unit as units turn over. 
  • Over the past 12 months, rent in the Jackson market has increased by 4.2%. This level of growth represents one of the strongest annual increases in Jackson since 2010.
  • According to CoStar, recently renovated units in Jackson have seen cumulative growth of close to 20% since 2010
  • 4 & 5 Star properties collect an average premium of 45% compared to their 3 Star counterparts in the Jackson market (CoStar).

Superior School District: Located in Rankin County (A- overall ranking), residents at Village at Crossgates will have access to a far superior school district than nearby Hinds County (C overall ranking). The property is zoned for the following schools:

  • Flowood Elementary: 8/10
  • Pearl Junior High: 7/10
  • Pearl High: 8/10

 
Proximity to Neighborhood Services: Village at Crossgates is located within 5 minutes of multiple neighborhood services, such as Merit Health Rankin, Kroger, Home Depot, Chick-Fil-A, CVS, and Walgreens

Thriving Manufacturing Sector: Jackson has established itself as a strong manufacturing hub, drawing manufacturers in with its favorable business climate and able workforce, including:

  • Nissan: Vehicle assembly plant - 6,000+ jobs
  • Continental Tire: $1.45 billion manufacturing plant - 2,500 jobs
  • Peco Foods: 1,000 jobs
  • Brown Bottling Group: 400 jobs across 4 locations
  • Seraphim Solar: $50 million facility - 250 jobs
  • General Motors: 110 jobs

Access to Major Jackson Employers: Jackson has over 15 employers which provide over 1,000 jobs to its residents, highlighted by:

  • State of Mississippi (31,556 jobs)
  • University of Mississippi Medical Center (10,000 jobs)
  • Nissan (6,000 jobs)
  • United States Government (5,500 jobs)
  • Baptist Health Systems (3,000 jobs)

Opportunity Zone Provides Attractive Development Incentive: Village at Crossgates is located in an Opportunity Zone, providing a future roadmap for potential development.

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