The Decatur Daily is reporting that the City of Decatur is offering $40 Million in incentives for the Sweetwater Development located at the I-65/ Alabama highway 20 interchange:
http://decaturdaily.com/stories/Decatur-incentives-could-total-40M,115229
Here are the main points:
1. A 100,000 sq. ft. store will anchor the development. It is clear that Bass Pro Shop is the anchor when references are made to sales taxes on boats and trailers.
2. A 250 room hotel will be there, but there will not be a conference center as there was in the original proposal in 2008 and no arena, either.
3. There will be three sit down restaurants which will each gross more than $1.9 million in sales a year.
The Huntsville Times had an article in this morning's print edition, but there is no link to it at al.com, but that article says that over 40 restaurant chains have contacted the developer and they have narrowed it down to a list of 10 and will then make their final selection.
My predictions are as follows:
1. Since Bass Pro is the lead anchor, this will be a large scale outlet center with the usual array of fashion outlets like you see at the Shops of Grandview just east of Birmingham.
2. The hotel will be a chain like Holiday Inn, although because it is 250 rooms, that eliminates a lot of chains and it could be a Marriott or maybe even part of the Hilton family (like a Hilton Garden Inn, etc.)
3. For the three sit down restaurants, the most likely candidates are: LongHorne Steakhouse, Cracker Barrel and Logan's Roadhouse and/or Chili's. The main factor will be chain restaurants which locate at interchanges along interstates. If you look at Oxford, AL, there is now a Longhorne, Olive Garden and Cracker Barrel which have opened at the I-20/Morgan Road interchange which have come as a result of the large Oxford Exchange Shopping Center (anchored by Target, Best Buy, Kohl's, etc.) and I would expect a similar dynamic to play out at this development.
It appears that this development is gaining some steam and may actually happen this time.