Client challenge:

GMunicipalities frequently use public-private partnerships to share financial risk and drive year-round activity around tourism and event venues. The public oversight Commission for the Mississippi Coast Coliseum and Convention Center wanted to explore a mixed-use district to build on its strong regional draw. To move forward, the Commissioners needed an independent feasibility study to review delivery structures, identify local real estate market gaps and determine if expanding the commercial and hospitality footprint was viable without over-saturating the market.

Approach:

Feasibly conducted a market feasibility analysis paired with financial modeling covering:

• Benchmarking of comparable regional convention districts and public-private delivery models

• Multifamily market analysis evaluating local rental trends and the demand for new premium housing

• Commercial real estate assessment highlighting undersupplied retail segments and regional office trends

• Hospitality evaluation analyzing convention-driven room demand and the viability of proposed hotel additions

• Master plan financial modeling to establish capital expenditure limits and project stabilized operating income

Benefits to client:

The study provided a clear, data-backed roadmap for the district. Feasibly recommended a phased delivery of premium residential units to anchor the project, alongside targeted retail and modern office space to meet unmet local demand. Additionally, our analysis recommended a phased approach for developing a potential second onsite hotel, advising the client to let existing properties absorb current convention room night demand first. By evaluating the project's financial viability from a private developer's perspective, Feasibly provided the City with a clear understanding of the public investment required, anticipated developer interest, and likely partnership terms, equipping City leadership to structure a financially feasible and market-supported public-private partnership.