TUPELO, Miss. (WTVA) -- Downtown Tupelo Main Street Association Executive Director Debbie Brangenberg looks over the footprint for First National Bank Tupelo along with the architect and bank officials.
It's taken more than a year to finalize the deal.
"As with a lot of economic development projects, they don't just happen overnight," Brangenberg said.
FNB's parent company FNB Oxford has broken ground on a more than $1.5 million, 7,200 square foot, two story building.
"It's a really great addition to the Fairpark area. We're talking about conveniences for all the people that are working in and out of downtown," Community Development Foundation CEO David Rumbarger said.
"We hope in the future that we can build on every business that locates here," Community Development Foundation Board of Directors Chairman Chauncey Godwin, Jr. said.
Tough economic times have also affected development in the Fairpark District.
"The economy has slowed our project unfortunately, but we've had two residential homes that are under construction now which is the first in several years, so that is very promising," Brangenberg added.
They are promising for other reasons as well.
"It continues to be that I get weekly calls about possible developments in our area about residential construction or looking for space in the area. We try to match them up with potential clients and hope that we can see some more development in the future," Brangenberg said.
But for now, there is much to celebrate in the present.
"With the success we've had, we decided that we want to be right in the middle of things and make a statement to the community that we're going to be a permanent resident," FNB Oxford President and CEO Johnny Barrett said.
Construction is scheduled to be completed in late summer 2014.