The developer of a major retail development near Hank Aaron Stadium has announced a groundbreaking date and tenants for the future shopping center.
Chattanooga, Tenn.-based real estate and development firm Hutton will hold the groundbreaking for McGowin Park at 9 a.m. on Friday, July 25 to move the first dirt on the 600,000-square-foot complex.
Hutton and JLL, out of Chicago, also announced tenants for some of the stores in the center, including a Costco, Dick’s Sporting Goods, Field and Stream, Petco, Hobby Lobby, Ashley Furniture and HomeGoods.
The center is expected to open in 2015, according to a statement from Hutton and JLL.
McGowin Park, which will be considered an “improvement district” will allow developers to issue bonds to finance public infrastructure. The city will return 1.4 cents of its five-cent sales tax collection and the county will return three-tenths cents of its one-cent sales tax collection on revenues that are projected to be as high as $200 million per year.
The Mobile County Commission and Mobile City Council approved the district last summer with construction originally slated to begin in February.
Since they were approved by state law in 2000, improvement districts have been cropping up around the state. In Baldwin County, similar public-private partnerships were used to create the Eastern Shore Center in Malbis, The Wharf in Orange Beach, The Spanish Fort Town Center and Colonial Pinnacle at Craft Farms in Gulf Shores.
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