Construction of a $17 million factory outlet mall in Park Park City is scheduled to begin later this month, Albuquerque, N.M., developers say.
The planned development will be built on a 25-acre parcel between the Landmark Inn at Kimball Junction and the Powderwood Condominiums south of Interstate 80. The mall should be completed by fall 1991.Unlike factory outlets that sell off-price, outdated merchandise or seconds, the factory outlet will be occupied by the companies that manufacture the name-brand clothing.
Jim Lavender, project manager for the development firm of Charter Oak Partners, said in a previous interview that the operation could employ up to 300 people and generate annually an estimated $2.4 million in state and local sales tax.
Company officials said the complex could gross up to $42 million during its first year of business.
Bruce Targoff of Bruce Targoff Associates of Maryland, the leasing agent of the project, said in a prepared statement he had received commitments for 90-95 percent of the available space in the factory outlet. He would not reveal the names of any of the potential clients.
Charter Oak Partners will likely act as general contractor and plans to hire local subcontractors, Lavender said.