economic
impact
Job Creation
898
Total permanent jobs
Hotels
120 Jobs
Big Box Retail
150 Jobs
Food/Beverage
(Fast Casual)
120 Jobs
Mixed-use
Commercial
138 Jobs
2,682
Total Temporary construction jobs
Full Service
Restaurant
120 Jobs
Coworking Space
10 Jobs
Commercial Retail
80 Jobs
Public/Athletic Facilities
160 Jobs
Market Potential
The District
Retail Expansion
Plans for 116,000 sq ft of big box commercial space and multiple smaller commercial units indicate strong potential for retail growth.
Mixed-Use Development
With 41 mixed-use commercial units and 420 mixed-use residential units planned, there's significant potential for integrated live-work-play environments.
Hospitality
The addition of 400 hotel units suggests the potential for growth in tourism and business travel sectors
Market Potential
Swanson Farms
Residential Development
The plan proposes 200 units of 1-6 unit residential developments and 45 mixed-use residential units, indicating strong potential for diverse housing options,
Recreational Facilities
With 187,000 sq. ft of indoor recreational space and 778,000 sq. ft of athletic fields/recreational areas, there's significant potential for sports and leisure-related businesses.
Funding Strategies
Recommended Strategy: Business Development District (BDD)
A BDD offers several advantages that align well with the project's goals:
Additional Revenue:
The Village could impose up to an additional sales tax (up to 1%) within the designated BDD and an additional hotel tax (up to 1%) on rooms within the district.
Flexible Use of Funds:
BDD revenue can be used for a wide range of district improvements, including infrastructure, land acquisition, and building rehabilitation.
Immediate Impact:
Unlike TIF, which relies on future property value increases, a BDD can generate additional revenue immediately upon implementation