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Planners to hear proposal for Wal-Mart, Lowes in
Dec 13, 2006 12:00 am
Mt. Juliet will be one step closer to a Wal-Mart and Lowe's in two weeks as developers of The Paddocks – the second mega retail development bound for West Wilson – present planners with their final master plan for a 187-acre retail center.
In June Atlanta's Gipson Hudson Properties LLC purchased the prime acreage near Interstate 40 and Providence MarketPlace for $20 million. A representative for the developer will go before the Mt. Juliet Planning Commission for final approval on Thursday, Dec. 21. The plan presented will contain changes requested by city officials including tweaks in elevations, number of detention ponds and entrances.
"The developers only need final approval," Mt. Juliet City Manager Rob Shearer said. "They will submit the changes requested."
Already, Wal-Mart and Lowes plan to open stores there and several other "significant" unidentified retailers have expressed interest in the site, Shearer said.
Wal-Mart and Lowe's will open in the first phase of the development that will have an eventual build out close to the size of Providence MarketPlace at almost a million square feet.
Part of the final master plan is a change made fronting the acreage. The developers switched the placement of detention ponds from the front of the proposed center to the back, thus increasing the number of road frontage out parcels
Gipson Hudson Property Manager John Gipson expressed his company will develop a mix of retail and office projects on the site that will include a hotel and a few junior anchors.
Shearer predicted if the project hits no snags, dirt will start to move there this spring and stores will open summer 2008.
The proposed development, when complete, will significantly cushion city coffers with an estimated $2 million sales tax revenue stream. The other $2 million in projected sales tax revenues will go to schools.
During a visit to Mt. Juliet in April, Gipson officially set aside a portion of the property for the future construction of a new police precinct for the city.
"We are so happy to be part of it all with the city," Gipson said. "We are glad we can help them. It's great."
Paddocks developers have agreed to pay for additional road improvement costs related to the project. Improvements include adding a third turning lane on the I-40 west ramp, a traffic light and more turning lanes on Mt. Juliet Road near the development.
Managing Editor Laurie Everett can be reached at 754-6397 or by e-mail at firstname.lastname@example.org