Redevelopment plans for former K-Mart site unveiled
January 7, 2019--5:52 p.m.
We could see some movement regarding the redevelopment of the former K-Mart site on Hicks Drive very soon.
On Monday, the Rome Redevelopment Committee heard a presentation from Ledbetter Properties about plans for the site, which has been vacant since K-Mart closed in the summer of 2016.
According to Rome City Manager Sammy Rich, the developers are looking at demolishing the old K-Mart and the construction 108,000 square feet of new space.
“That would include some new retailers and restaurants to the Rome market,” Rich said. “The exciting thing is they are talking to tenants who have yet to be in our market.”
Rich added that there could be Tax Allocation District funding for the project.
“The Redevelopment Committee agreed that this would be the ideal scenario to have a TAD for this project,” he added. “So, we are going to endeavor to move forward and create a redevelopment plan and ultimately that will lead to the Ledbetters having the ability to come in and ask for TAD funding.”
The development could mean the creation of more than 400 jobs and an additional $2 million a year in sales tax revenue.