Magnolia parking lot project expected to begin construction next year

The Market at Commerce–a project by the Magnolia Economic Development 4B Corp. that will turn a parcel of land into a parking and market space–is projected to begin construction next year, said MEDC Director Rachel Steele in a Dec. 7 email.

The details

The project was initially slated to be completed in 2024, Community Impact previously reported, but Steele said drainage and right of way issues in the area have set back progress. Steele said the 4B Corp. is optimistic that it can finalize its plat and begin construction early next year.

“The [MEDC] remains committed to the project and staying focused on executing project milestones as outlined in the project’s development plan,” Steele said.

Also of note

The project, which Steele estimated to cost around $700,000, will be located on a 1.5-acre parcel of land on Commerce Street between Classic Collision and the Magnolia United Methodist Church, and will add about 100-135 parking spaces, according to prior reporting.

Located near The Stroll—a pedestrian walkway featuring shops and public art locations—the added parking would add relief for businesses on the half-mile stretch, Community Impact previously reported.