Monday, December 06, 2010

'Phone Ringing' With Interest in Millennium Development

View Marion STAR Bonds District in a larger map

Sunday's Southern Illinoisan brought the latest status update for the new Millennium Development project slated for Marion's north side.

Many are interested, but nobody's signed on the dotted line yet in terms of the major anchors, though the developer hopes to have one by the end of the month.

"The phone is ringing. We've been in meetings and having conversations with several potential users. Some are performing market studies, doing their own due diligence. We hope to know more before the end of December," [Developer Bruce] Holland said. "Of course, the holiday season is their busiest time of the year, but we've been talking to some on a weekly basis."

Developers need to land at least one of the two major destination users (large retailers with the capability to attract shoppers from far away) as well as the major entertainment user before they can submit a plan for city and state approval.

Holland told the Southern that they have all the land they need at the present, though should the project expand they could acquire additional acreage. Legislation allowing the STAR Bonds District allows the district to expand up to 500 acres. It's currently under 400 acres.

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