PraCon Global Investment Group, headquartered in Jackson, released plans Wednesday for Prado Vista, a 77-acre mixed-use development located off of Interstate 55 in Madison County. The project will include a hotel, retail space, office space, and residential units. The development will also feature green spaces and walking trails for residents and visitors to enjoy.
Gabriel Prado, CEO and president of PraCon Global Investment Group, shared plans with the Fondren Renaissance Foundation to redevelop the old Coca-Cola bottling plant in the Fondren neighborhood of Jackson. PraCon Global Investment Group bought the building and is now looking to tear it down, turning it into a housing development project. The company plans to invest $60 million into the project. According to the Fondren Renaissance Foundation, the development will feature 200 apartments and 5,000 square feet of commercial space.
Prado is president and Chief Executive Officer of PraCon Global Investment Group, with offices housed in Fondren. According to his LinkedIn profile, he has been with the company since 2001 and has overseen the development of over 30 projects across the United States.
The Prado Vista project is part of a larger plan by Gabrielle Prado, the developer and CEO of PraCon Global Investment Group, who intends to pour $60 million into the redevelopment of several properties in the Jackson area. The company is also looking to redevelop the old McRae's site on Meadowbrook Road in Fondren, where they plan to construct lofts.
The announcement of the Prado Vista development has been met with excitement from both residents and city officials. Madison County Board of Supervisors President Trey Baxter said in a statement, "We are thrilled to see this kind of investment in our community. The Prado Vista development will provide much-needed housing and commercial space, while also enhancing the natural beauty of our area with its green spaces and walking trails."
The Prado Vista project is expected to create over 500 jobs during the construction phase and over 1,000 permanent jobs once completed. The development is also expected to generate significant tax revenue for the city and county.
PraCon Global Investment Group is a privately held real estate investment and development firm with a portfolio of over $1 billion in assets. The company specializes in the development of mixed-use, commercial, and residential properties across the United States.
In addition to their projects in Mississippi, PraCon Global Investment Group has also developed properties in Florida, Texas, and California. The company has a reputation for creating high-quality, sustainable developments that are both environmentally and socially responsible.
The announcement of the Prado Vista development comes at a time when there is a growing demand for mixed-use developments across the country. These types of developments are seen as a way to revitalize urban areas, create jobs, and provide much-needed housing and commercial space.
PraCon Global Investment Group is well-positioned to take advantage of this trend, given their experience and expertise in the development of mixed-use properties. The company has a proven track record of creating successful developments that meet the needs of both residents and businesses.
In conclusion, the Prado Vista development is an exciting new project from PraCon Global Investment Group that promises to bring much-needed housing and commercial space to the Jackson area. With its green spaces and walking trails, the development will also enhance the natural beauty of the area. The project is expected to create significant economic benefits for the city and county, and it is sure to be a success for both PraCon Global Investment Group and the community as a whole.
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