Ellington

Jacksonians have heard plans, proposals and promises about a reborn Farish Street for the better part of two decades. Less than four years after purchasing the project from Performa, Watkins Development LLC may deliver four pieces of the puzzle in 2012.

Jason Goree, vice president of Watkins Development, said barring any unforeseen problems, at least four clubs, including B.B. King's and Zac Harmon's blues clubs, will be open on Farish Street by the end of the year.

The entire project consists of revitalizing two blocks of Farish Street, once home to a vibrant African American culture in Jackson, into a nightclub-and-restaurant hotspot, much like Beale Street in Memphis.

"When we get Farish Street open, we will stop the hemorrhaging of our musical talent and our culinary talents," Goree said. "We will provide them a platform to display their gifts."

Watkins Development is working to finalize $11 million worth of historic tax credits that the company will offer as collateral for a $10.2 million bond issue from the city. Goree said they hope to close on the tax credits by mid-July.

The $10.2 million bond issue, the final funding needed for phase one of the project, will come in two parts. Watkins Development will focus the first on opening the first four clubs and the second portion, due a couple months later, going toward completing the first block of the project, from Amite Street to Griffith Street.

"There's just so many moving parts, we're trying to eat this elephant one bite at a time," Goree said.

Once the tax credits are finalized and the first bond issue comes in from the city, Goree said it will take approximately 90 days to open four clubs.

B.B. King's, a staple on Beale Street, has been onboard with the Farish Street project since signing a lease in 2011. Zac Harmon's joined soon after, also signing a lease. Goree said they have not decided what other two clubs will receive funding from the first tax credit closing.

Goree said Watkins Development doesn't have much work left to do to get the clubs open.

"We've done a lot of design work. We've done a lot of infrastructure work in stabilizing the buildings," Goree said. "Now, it's just really ready for the tenant build-outs."