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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

A. Lee Graham

Reporter

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

Cherokee Nation has agreed to lease property west of the casino to Woodmont Outlets, a commercial real estate developer, which plans to invest $80 million into premium outlet shops to be called Cherokee Outlets, according to the companies. 

The proposed development would create 1,000 permanent jobs and hundreds of jobs during the construction phase. When complete, it  could generate $120 million in annual sales and attract two million additional visitors to the area per year.

“We approached [Cherokee Nation Businesses] because of the world-class amenities of the casino and resort, proximity to key markets and the two million people that already visit Hard Rock Hotel & Casino Tulsa every year,” said Stephen Coslik, Woodmont Outlets chairman, in a news release.

“In addition to the Tulsa metro and surrounding areas, it’s an easy drive from key markets like northwest Arkansas and Joplin, Missouri. I’m confident we can attract the premium retailers to make this development the best in the region,” Coslik said.

The proposed Cherokee Outlets would be located on Cherokee Nation-owned land, but all retail sales will be subject to state and local sales tax.

The project is expected to be complete in late 2016.

lgraham@bizpress.net

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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