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Wal-Mart signs lease, sends first payment to CRIT
Final prep work being done on site as construction planning moves forward
Wal-Mart has signed a lease with CRIT to build its new store in Parker, and has sent the first lease payment to the Tribes.
The signing was a final step in the long process to bring the store to the community and to begin to develop a new shopping center across from the Safeway Center on Highway 95.
CRIT officials estimate that construction of the shopping center could start as soon as mid-year, and the center would open in 2009.
“We’re very pleased that we’ve reached this agreement with Wal-Mart,” said Tribal Chairman Daniel Eddy, Jr.
“This store and this shopping center will be an asset to our community, and we’re happy to be moving forward.”
As proposed, the new store will be about 100,000 square feet and include groceries and general merchandise.
The center will include a variety of other stores as well.
CRIT will be leasing the other parts of the property so that it has control over the types of businesses that come into the community and can secure the revenue streams created from those stores.
Wal-Mart will account for 11 acres of the 23-acre shopping center site. CRIT will control the other 12 acres.
“It’s a significant opportunity for CRIT to generate revenue for Tribal services and new jobs for Tribal members,” Eddy said.
Wal-Mart is currently in the process of moving some of the power lines on the site in advance of construction.
In addition to creating more shopping choices for area residents and tribal members, the economic impact and job creation from the shopping center will be substantial.
The new Wal-Mart store will create an estimated 200 new jobs and up to $400,000 per year in sales tax revenue for CRIT, which will help fund youth, elder and other important programs.