New retail project to bring more jobs, visitors to Tyler
TYLER, TX (KLTV) -
The city of Tyler announced plans for a massive new retail center Wednesday, which they hope will bring new jobs and visitors to the city. The new development will be on S. Broadway, just north of Toll 49 in South Tyler. Tyler Mayor Barbara Bass said it is the biggest private investment project in Tyler's history.
"To have this size of a development coming into Tyler, Texas is something that you get once in a lifetime," said Bass. "It will change the face of Tyler as a retail destination."
The center could also bring hundreds of new retail jobs to the city, as well as an increase in tax revenue.
"Sales tax is really critical to our entire economy," Bass said. "We're excited for that increase and Tyler just being a stronger retail destination."
The project will convert 80 acres of empty and wooded property into a 700,000 square foot outdoor retail space, including stores, restaurants and entertainment venues.
"Whether you're coming from the Dallas, Van, Lindale, Canton, or any of that area coming in, it will be easy to jump on Toll 49 and get over to 69 South at this development real quickly," said Bass.
Part of the site will also be home to Tyler's proposed hotel and convention center.
"The hotel is all dependent on the conference center coming together," Bass said. "But having the land site that the private investor requested for the location is critical to its success."
But will the new center cause current retailers to leave their current space in favor of the new location?
Part of the agreement is that the developer will have to bring companies that are not currently in Tyler for the numbers to work for them," Bass said.
"We are a very hot retail area, so I think if you have some transition, it will be backfilled."
Developers expect the first phase of the new project to open by the summer of 2014.
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