It’s official — Hobby Lobby, PetsMart, along with a Famous Footwear, Ulta and a TJ Maxx — are all part of the Phase 1 construction plans for the Shawnee Marketplace, developers confirmed Friday.

It’s official — Hobby Lobby, PetsMart, along with a Famous Footwear, Ulta and a TJ Maxx — are all part of the Phase 1 construction plans for the Shawnee Marketplace, developers confirmed Friday.

And that’s not all of the stores planned for the initial $20 million investment for Phase 1, which will be constructed near Interstate 40 and Kickapoo Street, where land preparations are under way.

Jeff Williams, president of Hunt Properties, Inc., said erosion control is in the process of being installed and mass grading also is commencing for the construction project, which is on schedule for retailers opening in the Spring of 2015.

Tim Burg, director of the Shawnee Economic Development Foundation, said there’s still one more retailer still to be announced for the main part of Phase 1, along with several new stores yet to be announced for the frontage retail locations that will be along Kickapoo Street between the current CVS Pharmacy and Delta Café.

Excited about the announced stores, Burg said this project has been in the works since 2009.

“It’s a game-changer for the revenue stream…these are stores we don’t have,” Burg said, adding this will help prevent some of this area’s sales tax dollars from “hemorrhaging” to other communities in the Oklahoma City area.

“It fills a gap of what we don’t have for what consumers are going to the west to find,” he added.

Burg said the stores also will supply consumer choices for a much larger audience without taking away from current businesses in the area.

The retail development is expected to have annual sales of about $30 million when fully developed by Phase 2 and should bring 600 to 800 new jobs to this area, Burg said.

Phase 1 of the project calls for about 125,000 square feet of retail space with six retailers on 16 acres of the initial development area west of the Burger King and Delta Café.

The retailers in Phase 1 should have spaces of anywhere from 5,000 to 50,000 square feet each, with the main entrance for Phase 1 planned to be off Kickapoo Street.

The deal for the Shawnee Marketplace was made possible by many factors, including Hunt Properties exchanging land it owned in Oklahoma City for the land in Shawnee, which was original property of the Commission of the Land Office.

Both the city of Shawnee and Pottawatomie County commissioners also have inked incentive agreements to bring this development to Shawnee.

Pottawatomie County commissioners have agreed to provide up to $1.25 million in economic development funds for development, while the city of Shawnee has approved a sales tax rebate agreement.

That sales tax rebate agreement states the city agrees to provide the developer, in the form of a rebate, an amount not to exceed $3.75 million in sales tax generated exclusively from the new project.

The amount of sales tax rebate will be 2 percent of taxable sales for six years, then 1.5 percent for an additional three years, for a total period not to exceed nine years up to a maximum of $3.75 million, whichever comes first.

The city of Shawnee collects three cents tax for every dollar spent while Pottawatomie County will benefit from the county’s one-cent sales tax. In addition, Burg said the entire county will benefit from the ad valorem taxes generated by the development, as will schools and the library.

With completion of Phase 2, the development will have a total of 400,000 square feet of retail space. Burg said Phase 2 is expected to be another $20 to $30 million investment, so both phases together are easily an investment in excess of $50 million for this area.

An Economic Impact Analysis done by the Shawnee Economic Development Foundation to assess the impact of this development shows that the temporary impact of construction is nearly $18 million, with about $35 million of an economic impact from retail sales.

Burg said in addition to serving local shoppers, studies show that 32,000 people travel Interstate 40 between Kickapoo and Harrison Streets each day.

That amount, times 365 days in a year, is more than 11.6 million people with the potential to shop this area, Burg said.

Watch for updates.