Groundbreaking For East Hartford Outlet Shops Set For Thursday

Town leaders and the developer of planned outlet shops near Rentschler Field are to hold a groundbreaking ceremony for the project on Thursday.

The 282,000-square-foot retail center is to open in November 2018. Gary Skoien, president and CEO of Horizon Group Properties Inc., is to join Mayor Marcia Leclerc and other local and state officials for the ceremony, set for 11 a.m. at the construction site.

The Outlet Shoppes at Rentschler Field are to include about 70 “leading fashion and lifestyle retailers,” the developer said. Additional phases are to encompass 140,000 square feet and include 30 to 35 stores.

Touted for its easy access from both I-84 and I-91, the shops “will serve as a compelling tourism magnet for the region, generating thousands of new jobs and an estimated $223 million in state tax revenue over a 20-year period,” a news release said.

The development’s architectural style is to reflect the property’s aviation history and feature restaurants, a food pavilion and a central courtyard with an outdoor fireplace and a children’s play area.

The shopping center will be the first retail development on the 650-acre Rentschler Field property since Cabela’s opened in 2007. The initial phase of the project is expected to cost $100 million.

The town council has unanimously approved a tax break of up to $16.86 million for the development. The incentive is to extend over 10 years, with 100 percent of taxes forgiven during the first two years and a decreasing percentage over the next eight years. The breaks would come from deferring the increase in the real estate assessment on the property, or the difference between the value of the vacant land and the value of the development.

The tax break could be less than the agreed upon $16,858,093, but it is capped at that level, town Finance Director Michael Walsh has said. The agreement also requires Horizon to occupy the space for 10 years after the shops open, or the tax abatement would end, Walsh said.

The town still expects to see about $9 million in real estate taxes over the 10 years and an additional $2 million over the same period through personal property tax revenue from each of the 70 retailers. Walsh estimated that the personal property tax revenue could bring in between $150,000 to $225,000 in the first year.

Illinois-based Horizon — www.HorizonGroup.com — owns and develops outlet shopping centers across the nation.

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