New 32-acre shopping district will reshape important Mississippi interstate corridor, officials announce – Magnolia State Live

A new 32-acre shopping center, including five new restaurants and a variety of retailers, is expected to transform an important Mississippi corridor along Interstate 55, officials report.

Panola County residents will soon have more dining choices than ever as development ramps up in Batesville, according to Panola Partnership Executive Director Joe Azar. After years of retail recruitment efforts, the Covenant Crossing area and a planned 32-acre shopping center are set to host at least five new restaurants, along with a variety of retailers, bringing growth to a key part of the region.

“This development is a culmination of work from the Panola Partnership, the City of Batesville, and Panola County,” said Azar. “We can’t name the specific stores and restaurants yet, but they will all be well-known national or regional brands that the people of Batesville and Panola County will be proud to see here.”

The shopping center, which will be anchored by big-box retailers, is expected to reshape the landscape around Interstate 55 and Highway 6. While it may not include every retailer seen in larger shopping centers like those in Oxford or Southaven, Azar is confident it will attract shoppers who currently travel to other cities for similar options.

“This is about creating more opportunities and jobs for the community,” Azar said. “We’ll continue to support our existing local businesses, and this new development will complement what we already have, not compete with it.”

The shopping center will be funded through Tax Increment Financing (TIF), a method that allows developers, such as Noon Real Estate, LLC, to recoup their investment by using a portion of the sales tax and property tax generated by the development. The project is expected to significantly boost the local economy, creating new jobs and bringing in additional revenue for both the city and county.

By this time next year, Azar predicts that Batesville will have a fresh look, with a renewed focus on expanding its retail and dining landscape.