Monday, June 21st 2010, 8:20 pm
By Colleen Chen, NEWS 9
OKLAHOMA CITY -- Oklahoma City residents are getting closer to having outlet shopping in the area.
Oklahoma City's Economic Development Trust will consider a revised agreement with Horizon Group Properties on Tuesday. Horizon Group Properties had an agreement approved in 2008 but the economic downturn stalled the project. The only major change in the revised agreement is a proposal for Oklahoma City to spend about $1 million more dollars in infrastructure improvements.
"We know that outlets have bucked the trend. People are still shopping at them. Oklahoma City depends heavily on sales tax revenue. These outlets would give us a big boost, 112,000 cars cross the anticipated outlet location," said Brent Bryant, the city's Economic Development Program Manager.
Site work has begun on the northeast corner of I-40 and Council Road in anticipation that the city will approve plans. Eighty percent of the proposed Outlet Shoppes at Oklahoma City are spoken for. That list includes Saks Fifth Avenue's Off 5th, Banana Republic, Gap, Coach, Nike, Under Armour, Chicos, Tommy Hilfiger, Carter's, and Nine West.
See the full list of shops as of May 10.
"They'll be 700 construction jobs along with 1,000 permanent jobs once the outlet shops are open," Bryant said. "We estimate initially $4 million on an annual basis and we estimate half of that will be new money."
If the agreement is approved by the Economic Development Trust Tuesday, the city council will have to give it's approval the following week. If approved by council, the goal is to have things up and running in 18 months. Bryant said ideally the development would be open by the start of the Christmas shopping season next year.
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