Jonesboro, AR - Two real estate development companies used a large noon lunch gathering at St. Bernards Auditorium today to reveal plans for a major new shopping mall in Jonesboro.
The Belz-Burrow Development Group and David Hocker & Associates unveiled plans for a $100 million retail development in East Jonesboro.
"I think the way we went out it was about location, and in real estate, it's location," said Developer Bruce Burrow.
The Mall at Turtle Creek will be located on 75 acres at the corner of Stadium and Highland. Developers say approximately 70% of traffic comes through that area.
Developers also say that department stores are the bread of life. And so far they've solidified Dillard's, J.C. Penney, Target, and smaller stores such as Victoria's Secret, Gap, and Bath and Body Works.
"I think we're going to meet the shopping needs of a huge trade area not only Northeast Arkansas, but Southeast Missouri," said Burrow.
Developers say The Mall at Turtle Creek will be a first of its kind in the country, with two levels and the first escalator in Jonesboro. It's estimated this project will bring in 225 million dollars in sales and new taxes for Jonesboro.
"It will have benches and art work and that kind of thing, so you'll enjoy walking along, sitting and visiting," said Developer Marty Belz.
Jonesboro Mayor Hubert Brodell says this is a great announcement before he leaves office. He says it's the real deal.
"The Dillard's people are here, people of that nature, that means it's gold," said Brodell.
But what about the proposed Southern Hills Mall that developer Warmack Company said would be ready this summer? They too were after Dillard's.
"I don't like talking about projects that didn't work," said Dillard's Vice President Wes Cherry. "I like talking about projects that work and this one is going to be great."
A representative from Warmack told K-8 news that they're at a great retail site in Jonesboro and they're continuing to work for it. As for the delay, they said projects are driven by tenant demand and that's when they come together.