PETAL, MS (WDAM) - The city of Petal will soon be getting a new apartment complex.
An attorney for York Development came before the Forrest County Board of Supervisors today asking for a public hearing to be held to answer questions about the project and the need for a Tax Increment Financing.
The upscale apartment project has an estimated price tag of nearly $15 million.
With 132 units, York Development officials say that the apartments will be the nicest in the area with many of amenities, similar to it's Cross Creek Village in Lamar County.
The proposed location of the development is on Byrd Parkway behind the Petal Walmart.
"Basically it's a 'win win' for the city," Petal Mayor Hal Marx said. "We are able to help Dr. York get this project off the ground. It will be a big boost for the city. And then once the TIF is paid for, those taxes that are generated from the apartment complex will then be going to the city of Petal to help pay for our other general infrastructure needs and things like that."
The development's attorney said that groundbreaking on the project could be by the end of the year. Mayor Marx says the development will be a boost in the local sales tax as more people will be there to spend money.