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May 19, 2005
This will be nice
Take a look at this article in today's Anniston Star:
'Outdoor' mall to be built in Oxford
By Rob Jordan
Star Staff Writer
05-19-2005
OXFORD — A developer will break ground along Interstate 20 next week for a shopping center that will rival the nearby Quintard Mall in size.
Oxford officials discussed the plan Wednesday, a day after transferring a 272-acre tract of land at I-20 and the Morgan Road extension to the city’s commercial development board. Abernathy & Timberlake Investment Group, LLC, of Duluth, Ga., has agreed to buy 70 acres of that tract for $10.5 million, and build a large-scale “outdoor” mall filled with about 25 stores and restaurants, according to city officials.
Two major retailers have agreed to open large “anchor” stores at the site by next July, according to city officials, who withheld identification of the retailers.
In an April 20 public notice about the water department’s application to fill wetland at the site, the Army Corps of Engineers stated that the department’s plans specified retail giants Target and Home Depot as the mall’s anchor tenants. Officials with Abernathy & Timberlake could not be reached for comment Wednesday.
The new mall will bring more than $7 million in annual tax revenue and 900 or more jobs, according to city officials, who said the city will spend about $6 million on site preparation and road improvement.
“It’s going to be an economic bombshell for the city of Oxford and southern Calhoun County,” said city councilman Johnny Bentley.
At 725,000 square feet, the mall will be almost exactly the same size as the 726,000-square-foot Quintard Mall. With the city’s permission, contractors will work up to 20 hours a day to complete the project, according to City Council President Mike Henderson.
In addition to the two anchor stores, Mayor Leon Smith said a number of other stores have expressed their intention to open in the mall. All of the retailers involved are new to the area, Smith said, a fact that he said would attract customers from far and wide.
“I think it’s going to be a great investment for our city,” Smith said.
Smith said he had yet to see an impact study of the project, but he expects the city will build an additional lane on the adjacent I-20 off-ramp and may widen the Morgan Road extension to accommodate a traffic influx.
In 2003, Smith and the water department jointly spent $10 million of city money to acquire the 272 acres. Smith made the deal public four months later and requested a council vote of approval for the purchase. Tuesday, the council voted to buy out the water department’s share for $16 million, on the understanding that the department would build a “state of the art” drinking water plant on the site and conduct extensive upgrades to the city’s sewer system.
The $8 million water plant will draw from a 34-acre aquifer-fed lake, increasing the city’s drinking-water output capacity from 9 million gallons a day to 14-15 million gallons a day, according to Wayne Livingston, the department’s general manager. The water plant is slated for construction within the next year.
Councilman Steven Waits described the water plant as a way to plan for future population growth without raising water rates. Land sales at the 272-acre site and future tax revenue there will pay for the plant’s construction, Waits said.
“The real story to me is not only are we getting a major retail development, but having our water needs met for the next 20 to 50 years,” Waits said.
With 70 acres set to hold an outdoor mall, about 40 acres reserved for future development and another 40 acres for the water plant and lake, the city will have about 120 acres left at the site. While some of the remaining land could be used, Smith said much of it is unsuitable for development. Still, he said, parts of the property such as a large granite hillside might usable.
“I’m saving that hill for my statue,” Smith said jokingly.
About Rob Jordan
Rob Jordan covers Oxford for The Star.
Posted by Chris at May 19, 2005 09:27 AM