Construction of the Shoppes at Oklahoma City factory outlet mall at Interstate 40 and Council Road remains on track for an August 2011 opening.
Brent Bryant, city economic development program manager, gave a presentation about the project at a recent meeting of the Oklahoma City Economic Development Trust and reminded the group the mall represents one of few major retail malls under construction in the country.
Walls are going up on several buildings, and some of the buildings, including the future homes for the Nike and Reebok outlets, are substantially complete.
The outlet mall consists of eight buildings and is more than 85 percent leased. The mall is being developed by Michigan-based Horizon Group. The project includes $3.9 million spent by Oklahoma City on infrastructure and sales tax rebates of up to $550,000 a year over a decade as reimbursements for actual expenses.
Bryant recently confirmed that the Economic Development Trust is set to review a modified agreement that increases the costs of infrastructure from $2,395,000 to $3,937,690.
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