The new tenant lineup will include national and regional recognized brand names, including Ross, Marshalls, Ulta, Five Below, and Buff City Soap.
“The Western Plaza Shopping Center vitality is important to the sales tax revenue for the city of Lebanon. And our citizens need soft goods shopping with variety without having to leave our city,” Lebanon Mayor Rick Bell said. “I appreciate the Lebanon City Council’s approval of the incentive package to move this project forward and Drinkard Development’s commitment to improving the shopping center.”
The total redevelopment retail space is over 67,000 square feet, with the local economic impact including:
- The anticipated Annual City of Lebanon and Wilson County Sales Tax – is $1.4 million
- Anticipated New Jobs – 104
- Anticipated Combined Salary - $3 million
- Redevelopment Property Tax - $45,649
- Developer Project Investment - $13 million
“Working on this redevelopment project has been a priority for this administration,” Lebanon’s Economic Development Director Sarah Haston said. “During his first few weeks in office, Mayor Bell and I traveled to Cullman, Alabama and met with Drinkard Development to let them know the importance of this property to Lebanon.”
Haston added, “There have been multiple discussions with developers regarding potential tenant lineup with projected sales tax revenue, consumer goods gap analysis, and projected growth for Lebanon. We are optimistic we landed the right tenants for the redevelopment.”
Construction for the redevelopment started in mid-May, with a completion date scheduled by the end of 2022.
“I am thrilled to see this development finalized after much hard work from Sarah Haston, our Economic Development Director. The retail traffic will not only improve this development but will also boost surrounding retailers. I am looking forward to opening day.” Tick Bryan, Alderman Ward Five.
Kmart vacated the property in 2019. The Western Plaza Shopping Center is located at 1443 W. Main Street.
“On behalf of the Drinkard Development team, we are excited about the redevelopment of the Western Plaza Shopping Center,” Drinkard Development President Jason Grimmett said. “We all realize that we are in a challenging time for the cost associated with construction. While many projects across the country are being delayed due to the rising costs, we have decided to push forward and again help this property become something that will make the citizens of Lebanon proud. Mayor Rick Bell and Sarah Haston have been diligent during this process, dating back over two years working alongside our office to get this deal to today. We hope to have more exciting news soon regarding more development opportunities on the property.”