Construction on Jackson Avenue is seen in Oxford, Miss., March 3, 2015. (DM | Cady Herring)
The Highland Court retail development, located on the old Canon Motors site off of Jackson Avenue, is nearing completion.
Planning of the project began around late 2013, and construction began June of last year. Randy Barber, building official for the city of Oxford, asserted that construction is ongoing, but the overall project is moving in a timely manner. According to Barber, the location was chosen based on the notion that not many desirable parcels of commercial land of this size and location are left in Oxford.
The complex will present multiple alternatives for dining in Oxford. Barber said that it is a great location for Rebel Shop and adds some additional choices for restaurants or retail shops in town.
Highland Court is just one of many new commercial developments in Oxford that is underway to help accommodate the increasing population in Oxford. There will be more announcements about the specifics of Highland Court at a later date, such as the public release of some exciting tenants, according to Barber.
Highland Court is expected to do fairly well in revenue from the businesses located inside, and the complex is a part of the expanding retail community of Oxford. Joe Pegram, vice president of Randall Commercial Group, LLC, said that Oxford has grown tremendously since 2009.
Pengram’s company works in seven southeastern states and, therefore, is familiar with many markets.
Pengram said Oxford is attracting attention from both national and regional businesses.
“Through that unique perspective, there are not many markets as exciting and economically sound as Oxford seems to be,” he said.
The growth within Oxford and the university has contributed immensely to the increase of real estate development in Oxford. Pegram said that as Oxford and the university experienced impressive growth during the last decade, the commercial real estate industry followed closely.
“There are several forces driving the real estate growth in Oxford, and many of these are independent growth contributors such as the tremendous growth in the university, the great quality of life, the central location and now, the existence of more job opportunities,” Pengram explained.
Additional real estate expansion is in Oxford’s future. Pegram stated Oxford is becoming home to more entrepreneurs, businesses, retirees, young professionals and, of course, students.
“As long as that continues to happen, I do not see Oxford’s real estate boom slowing down anytime soon,” Pegram said.
Oxford native Michaela Godfrey, sophomore biology major, said Oxford has expanded immensely since she was a child. She is not surprised at all about the new shopping area.
“When I was a child there was absolutely nothing in Oxford,” Godfrey said. “I think that it is a great addition. The population of Oxford has grown rapidly, and things like Highland Court really need to be built to accommodate it.”
