SCHERERVILLE | The first phase of construction for the Shops on Main project has started, and fashion, footwear and home furnishing retailers will be the anchors for the highly anticipated development.
Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse will locate in the center, according to a news release from Regency Centers, which is collaborating with Boyer Properties to develop Shops on Main at the southeast corner of Main Street and U.S. 41.
Regency Centers expects some anchors will open in the spring of 2014.
"We're really excited the project is getting off the ground," Town Manager Bob Volkmann said.
He said the developers have received inquiries from other business interested in occupying space at the site.
"Additional stores are expected," Town Councilman Kevin Connelly said. "However, it's good to see the project moving forward."
The first phase of Shops on Main will cost $50 million, according to Regency.
Schererville decided to issue $19 million in bonds to assist with infrastructure and development costs for the project.
The bonds will be paid off by the tax revenue generated by the development.
"We appreciate the support of the town of Schererville, which is a proven retail market based upon historical sales," said Nick Wibbenmeyer, vice president and regional officer for Regency Centers. "We’re excited to become an active member of the community by helping to create jobs."
In March, Town Attorney David Austgen said the development is projected to create 120 to 150 jobs. Annual payroll could be between $3.6 million and $4.5 million, he said.