|
|
|
The Shawnee News-Star
  • Shawnee Marketplace groundbreaking set June 18

  • While it’s already been announced that a Hobby Lobby, PetsMart, along with a Famous Footwear, Ulta and a TJ Maxx will be part of the Phase 1 construction plans for the Shawnee Marketplace, progress is being made as the site continues to change.
    • email print
      Comment
  • While it’s already been announced that a Hobby Lobby, PetsMart, along with a Famous Footwear, Ulta and a TJ Maxx will be part of the Phase 1 construction plans for the Shawnee Marketplace, progress is being made as the site continues to change.
    Land clearing is evident in the area of Interstate 40 and Kickapoo Street, where erosion control is being installed and mass grading is ongoing at the construction site, which is on schedule for retailers opening in the Spring of 2015.
    And while preparation work is well underway, an official groundbreaking ceremony is being planned for 10 a.m. June 18.
    Terri Watkins, spokeswoman for the CLO — Commissioners of the Land Office — said many will be in attendance for the June 18 groundbreaking of this project, which is being built by Hunt Properties, Inc.
    She said Governor Mary Fallin, who also sits on the CLO board, will be there, along with CLO Secretary Harry Birdwell, other CLO representatives, city of Shawnee and Pottawatomie County leaders, as well as representatives from Shawnee Public School and local state legislators, among others.
    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.
    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.
    With completion of Phase 2, the development will have a total of 400,000 square feet of retail space. Burg said Phase 2, which will have many other retailers yet to be announced, 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.
    While many retailers are already expected and announced for Phase 1, there are still more surprises to come as more stores will be announced soon.
    Tim Burg, director of the Shawnee Economic Development Foundation, said there’s still one more retailer 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.
    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.
    Page 2 of 2 - 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 would benefit from the ad valorem taxes generated by the development, as will schools and the library.
    Watch for updates.
     
     

        calendar