Bass Pro Commits to Pyramid

Breaking News Alert
Breaking News Alert

MEMPHIS, TN (WMC-TV) - The CEO for Bass Pro said they will turn the Pyramid into a new super store which will also include a 200 room hotel and restaurant.

Memphis officials said more than 500 jobs will be created by the development and the facility could be open by 2011.

Bass Pro will pay $35,000 a month for the next 12 months while permits are granted and plans are drawn, the company will then have two years for construction.

If Bass Pro pulls out of the deal, it will pay a $500,000 fine to the city of Memphis.

We're tracking this story on Region 8 News.  Stay with for more.