SOUTHAVEN, Mississippi — Outlet mall operator Tanger is partnering Poag Shopping Centers on a development in Southaven, Mississippi.
Southaven and DeSoto County officials several years ago approved a $15 million tax increment financing plan in which bonds will be issued to pay for the infrastructure for the outlet mall.
In addition, the development has approval for $34 million in sales tax rebates for the 324,000-square-foot project on 33 acres along Interstate 55, about 4-1/2 miles south of Memphis.
The store line-up has not been announced. It is expected to include Tanger's usual allotment of merchants such as The Gap, Ralph Lauren, Ann Taylor, Phillips-Van Heusen and Nike.
"We are excited to add Tanger Outlets Memphis to our existing portfolio of successful resort and destination properties," said Steven B. Tanger, President and CEO of Greensboro, North Carolina-based Tanger Outlets.
"Our joint venture with (Memphis-based) Poag is a strategic move to deliver a world class outlet experience in this thriving market," Tanger said in a statement.
Construction will begin immediately, and the mall is expected to be open for the 2015 holiday season.
Called Tanger Outlets Memphis, the development is expected to have about 70 "upscale brand name and designer outlet stores," Tanger said.
"We truly appreciate the public-private partnership under the Mississippi Tourism Project Incentive Program," Tanger said.