• December 17, 2014

Another Walmart coming to Killeen

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3406 W Stan Schlueter Loop Killeen TX

Posted: Thursday, December 12, 2013 4:30 am

Rumors of a Walmart Supercenter moving in where the Texas Thunder Speedway once stood were confirmed this week after the Killeen City Council unanimously approved a Houston-based developer’s request to rezone the property.

The rezoning called for about 62 acres at the southwest corner of Stan Schlueter Loop and Bunny Trail to accommodate the retail giant, other commercial retailers and restaurants.

The development, which was dubbed the Killeen Town Center, will house 431,486 square feet of developed retail space, including a Walmart Supercenter, five junior anchors — retail space typically less than 40,000 square feet — and six out parcels.

Hilary Shine, city spokeswoman, said the city and representatives from the Greater Killeen Chamber of Commerce began negotiations with Northwest Tidwell LTD. earlier this year regarding the multimillion-dollar development.

Shine said the rezoning at Tuesday night’s council meeting allows retailers and restaurants. She said apartments are part of the plan, but the rezoning for that hasn’t been approved.

According to city documents, the developer originally requested 21 acres be zoned multifamily apartment residential but later withdrew that request.

Economic impact

Once the development is complete and spaces are occupied, taxable sales are expected to exceed $125 million annually. The development also is predicted to create about 777 direct jobs in its first five years.

According to city documents, Northwest Tidwell LTD agreed to several requirements upon the council’s approval.

The developer agreed to a minimum of a $48 million capital investment to create a minimum of 500 new full-time jobs in its first year and maintain that many jobs throughout the terms of the agreement. The agreement also states the development will generate a minimum of $1 million in sales tax revenue annually.

Incentives

In exchange for the city’s requirements, the developer requested several incentives, which Shine said are in negotiations and have not been finalized.

The developer wants the city to issue an annual sales tax rebate of 1 percent, which the city would collect until $2 million has been rebated.

According to city documents, the rebate would be structured as $250,000 annual payments for no more than eight years.

The developer requested the extension of a sewer line to the development and the installation of a traffic signal at Stan Schlueter Loop and Bunny Trail. The Killeen Economic Development Corporation agreed to fund both.

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5 comments:

  • Pima posted at 4:59 pm on Fri, Dec 13, 2013.

    Pima Posts: 5

    I don't disagree. I would simply rather see a smaller store. Not the huge store that will, no doubt, bring lots of other issues/problems with the convenience of not having to drive a few extra minutes.

     
  • wilcfry posted at 10:17 am on Fri, Dec 13, 2013.

    wilcfry Posts: 93

    "Need"? Probably not. Will we make it profitable? Probably so. Existing retail stores and supermarkets are often crowded to overflowing; it would be nice to have extra choices, especially on the increasingly populated southern edge of the city.

    (Personally, I'd rather see another H-E-B or some other brand of supermarket, but regardless of which company it is, we'll likely fill it up soon.)

     
  • Alvin posted at 8:55 am on Fri, Dec 13, 2013.

    Alvin Posts: 248

    I'm sorry to be such a stick in the mud, but the city council has already voted to, by unanimous consent, and according to this article, copy: ' In exchange for the city’s requirements, the developer requested several incentives, which Shine said are in negotiations and have not been finalized.' End of copy. They voted, by unanimous consent, on something that they do not have the complete story. In addition, is that why the city has been so adamant in seeking new water supplies?

    Copy from article posted the last of November 30, 2013, to the best of my recollection, ' Earlier this year, city staff predicted that before the end of the year, Killeen would breach the 85 percent treatment capacity threshold set by the Texas Commission on Environmental Quality, which requires they develop a plan to obtain additional water.
    The new plant, which will take anywhere from three to five years to complete, will give the city an additional 10 million gallons of water per day. Killeen currently uses an average of 16 million gallons per day of its 32-million-gallon capacity out of Belton Lake.' End of Copy.

    Well, it's the middle of December, almost the 'end of the year' wherein the 'the city staff' have said we would breach the 85% treatment capacity set by the Texas commission on environmental quality back in November, 2013.

    Copy: 'The developer agreed to a minimum of a $48 million capital investment to create a minimum of 500 new full-time jobs in its first year and maintain that many jobs throughout the terms of the agreement. The agreement also states the development will generate a minimum of $1 million in sales tax revenue annually.' End of copy.

    I fail to see how a developer can make such statements as '500 new full time jobs in its first year and maintain that many jobs throughout the terms of the life of the contract, and also states the development will generate a minimum of $1 million in sales tax revenue annually. I believe that is 'projected revenues' not drew in the sand expectations. Also, the number of '500 new full time jobs, is that 'full time jobs' or 'full part time positions'? I believe there differences between 'full time employees and full part time positions'. And as to the statement 'a minimum of $48 million and to create a minimum of 500 new 'full time' jobs. Lets see, I believe that works out to $96,000.00/position. What I am trying to say is, 'don't blow smoke' in trying to achieve your point.

     
  • Smithjr38 posted at 12:44 pm on Thu, Dec 12, 2013.

    Smithjr38 Posts: 114

    In stead of a Super Walmart or auto lube business .
    Why not built senior Living Community place for both retired and those whom need health care. Like the Merrill Gardens at Prmer wood in Austin.
    ( that has the whole nine yard of Senior care from just living quarters ,with walking parks Gym and free food ,trash pick up and autos to take Seniors to area shopping to those whom need health care like nursing home at different rates for use . check out Merrill Gardens at Parmer Woods in Austin (close to Round Rock. on the web

    IF the Killeen or Harker Hgts area was smart they would push for a top of the line Senior living community as he Area has lots of retired military and civilians in the area And that would be a good back up as soon Ft. Hood will be on the chopping block to appease the greed of lobbyist in D.C.

     
  • Pima posted at 10:54 am on Thu, Dec 12, 2013.

    Pima Posts: 5

    Do we really need another large Walmart in the area? How about a smaller neighborhood Market? I'd rather see the smaller store than another megacenter.