Construction of the marina at the Town Center at Lost Rabbit is under way, and should be complete by the summer of next year.
The 10-acre Town Center project, which has an estimated cost of $30 million, will feature a 120-slip marina on the Ross Barnett Reservoir, and five blocks of buildings that will be designed utilizing elements of traditional Mississippi architecture.
The buildings will consist of condominiums, two restaurants, specialty shops, and professional office space. A general store, art galleries, and "live-work" units will also be included in the project.
Construction of these buildings is scheduled to begin in either the summer or the fall of 2007 after the marina is completed, and the first building should be finished by the fall of 2008.
"It's a little bit like the square in Oxford," said Lost Rabbit Managing Partner Mark Frascogna. "[They are] the most important square feet in the whole town."
Lost Rabbit is a "traditional neighborhood development" located on 260 acres just outside the city of Madison on the Reservoir. The project, which welcomed its first resident in June, is designed to recreate communities that are friendlier to pedestrians and contain mixed-use structures.
Frascogna said that placing the Town Center on the water is an idea drawn from the town of Portofino, Italy, which he said has a similar block configuration to Lost Rabbit.
"Having a Town Center that overlooks the water we believe is very attractive," said Frascogna. "It seemed to make a lot of sense, that the buildings would face the water, and face an area of the water that's actually populated by boats, not just an empty body of water."
While the basic concept for the Town Center may come from Europe, the design and appearance of the buildings will be drawn directly from Mississippi's architectural heritage.
Frascogna said that the Town Center will draw on several styles and design elements, that have been utilized throughout the state history include Federal, Greek revival, French colonial, and Italianate. But he stressed that, when completed, the project will have a unique look.
"While we want to draw from the historical architecture," said Frascogna, "we feel like it would be a mistake and a missed opportunity to build something that's a replica of an old town in Mississippi."
The Lost Rabbit planners also looked to another Southern town, in Fairhope, Ala., as a model for making the Town Center a magnet for the artistic community, which the art galleries will anchor.
"There are a number of similarities with Fairhope that we believe will make Lost Rabbit's Town Center an attractive place for the arts," said Frascogna.
The idea, he added, is to avoid "big box" retailers and make retailers in the Town Center unique in what they can offer to residents and consumers with "Mom-and-Pop" stores.
The town center of Annapolis, Maryland (where the U.S. Naval Academy is located) was also studied as a model for the Town Center.
Speaking generally about Lost Rabbit, Frascogna said that the project is going well, with Phase II construction well under way. He estimated that completion of the entire Lost Rabbit development should be in approximately eight years, after two years of infrastructure and residential construction on the site.
