ENID, OK - The Enid City Council approved an agreement with Jim Dill of Vector Properties to recruit a department store to The District. The agreement will allow Vector Properties to take the next steps to execute a Letter of Intent with a department store. The agreement states the City of Enid will provide the land to the developer and $1.9 million to assist with the cost of tenant improvements for the store.
"Today, the Commission took a step towards getting a name brand men's and women's clothing store developed in the District,” said Jerald Gilbert, Enid City Manager. “This development would fill our number one sales tax gap with clothing and nearly complete the District development."
The department store, which will include men's, women's, children's clothing and shoes, along with household goods, will be the anchor tenant on the 7.4 acres initially designated for a movie theatre. The department store will not take the entire acreage, but Dill plans to develop spaces for additional retailers. The proposed department store will generate $7 to $9 million in annual sales. With the addition of other stores on the site, the total sales tax collection will be even higher.
Regarding the movie theatre, the COVID-19 pandemic caused a disruption in the movie industry which paused development. The City of Enid and ERDA have continued to have conversations with developers and as the theater market recovers from the pandemic.
“The action taken by the City Council is a big win for Enid. The addition of a national retailer in the District will meet the need for additional place to shop for our residents as well as visitors, said Mayor George Pankonin. Our residents have voiced their desire for a variety of shopping options and we are glad to help accomplish this request working with ERDA, Kyle Williams, Rickey Hayes, and Jim Dill.
“I am grateful to the Enid City Council for their partnership on this development,” said Lisa Powell, Executive Director of ERDA. “Enid has continued to see an increase in sales tax revenue, and we expect that the addition of the department store will only continue to support our strong economy."
Over the past two years, there has been a lot of progress at The District, with the opening of Jiffy Trip, Colton's Steakhouse and Hideaway Pizza and Great Plains Bank under construction. The addition of a nationally recognized department store will only increase the success of The District and sales tax revenue for the City of Enid.
