It has taken a bit longer than expected, due largely to market changes and economic issues, but the Oklahoma City Council approved an altered agreement last week that allows the developer, Horizon Group Properties LP, to begin work on an Oklahoma City Outlet Mall at the northeast corner of I-40 and Council Road.
Under the new agreement, the city is going to fund a larger amount of public improvements for the project, but it is estimated the outlet mall will generate $106 million in annual retail sales and an estimated $4.1 million in annual sales tax revenues. Not only will it generate jobs for OKC, but experts say the outlet mall will bring new shoppers to the area. Currently, the closest outlet mall to the metro is in Gainesville, Texas, 135 miles away.
With a planned completion date of Christmas 2011, "Outlet Shoppes at Oklahoma City" will be a 320,000 square foot facility, and already, 80 percent of the shops are spoken for. As of May 10th, the list of retailers includes Sac Fifth Avenue Off 5th, Nike, Brooks Brothers, Under Armour, Banana Republic, Gap, Guess, Chico's and Tommy Hilfiger. Some artists renderings are available on the Horizon Group's website.
Rendering © Horizon Group Properties
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