By The Associated Press
STARKVILLE — The state College Board has approved the lease of Mississippi State University’s Cooley Building to developers of the $64 million Cotton Mill Marketplace.
The project is to include a 150-room hotel and buildings with a mixture of office, retail, residential and restaurant space along Mississippi Highway 12 in Starkville.
The Cooley Building currently houses much of MSU’s physical plant operations.
Under the proposal approved Thursday, the Cotton Mills Development Group would buy land neighboring the Cooley Building for $2.8 million and lease the building for $300,000 annually for 41 years, after which time it would revert to MSU.
Crews are to renovate the building and turn it into a conference center and 37,000 square feet of office space.