Retailers are about to start popping into spaces at Rome’s East Bend shopping center during the next two to four weeks.
Five Below, the first of the large anchor tenants, has already opened and is doing brisk business at the new complex on the corner of Turner McCall Boulevard and Hicks Drive.
Robert Ledbetter Jr. said that only four of the shops are still available for lease, and his company has at least a couple of solid prospects for a pair of the smaller spaces.
The new Xfinity store and Wing Stop are both scheduled to open shortly after the beginning of March.
Other buildouts — like Jersey Mike’s subs, Eggs Up Grill and USA Nail Bar — are well underway.
Construction of a Discount Tire between Texas Roadhouse and Chipotle also is underway, with a mid-spring opening anticipated.
Ledbetter said construction is expected to start this spring on a Kohl’s department store and Fazoli’s restaurant.
Kohl’s will go in the empty space next to Five Below. Old Navy will start its building on the other side of Kohl’s later this year.
Both Kohl’s and Old Navy are expected to open in time for the Christmas 2021 shopping season. Fazoli’s is slated to be constructed on a stand alone pad between Texas Roadhouse and Five Below.
Ledbetter Properties was approved for a Tax Allocation District financial assistance plan at East Bend. The developers are slated to receive tax breaks of $131,231 a year for 15 years, with the provision that the funds are funneled back into the project.
Chief Appraiser Danny Womack said that a full tax valuation for the East Bend property probably won’t be available until sometime in late April. The base value of the property was set at $1,510,138.
The payment amounts to a rebate on the increased taxes that are levied on the property once it has been developed.
The Ledbetters’ other TAD development is the RiverWalk shopping center at Riverside Parkway and Turner McCall Boulevard, with Olive Garden, Starbucks and other retailers. It had a base value of $251,212 in 2005. By 2020, the tax value had increased to $2,650,824.
Ledbetter Properties receives $55,000 a year through 2024 in TAD assistance for the RiverWalk development.