ENID, OK – Enid City Council has approved a deal with Jim Dill of Vector Properties to recruit a department store in 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 that the City of Enid will provide the land to the developer and $1.9 million to help defray the cost of the store’s leasehold improvements.
“Today the Commission has taken a step towards developing a branded men’s and women’s clothing store in the district,” said Enid Town Manager Jerald Gilbert. “This development would fill our number one sales tax gap with apparel and nearly complete the district development.”
The department store, which will include men’s, women’s and children’s clothing and footwear, as well as household goods, will be the main tenant of the 7.4 acres originally designated for a movie theater. The department store won’t take up the entire square footage, but Dill plans to develop spaces for additional retailers. The proposed department store will generate annual sales of $7-9 million. With the addition of more stores to the site, the total collection of sales tax will be even higher.
As far as movies go, the COVID-19 pandemic has caused a disruption in the movie industry that has halted development. The City of Enid and the 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. Adding a national retailer to the district will address the need for additional shopping space for our residents as well as visitors, said Mayor George Pankonin. Our residents have expressed their desire for a variety of shopping options and we are happy to help fulfill this request in conjunction with ERDA, Kyle Williams, Rickey Hayes and Jim Dill.
“I am grateful to Enid City Council for their partnership on this development,” said ERDA Executive Director Lisa Powell. “Enid has continued to see an increase in sales tax revenue, and we anticipate 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 in 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 town of Enid.