FOR IMMEDIATE RELEASE
Gluckstadt School Properties is initiating the development of the NeuMarkt Shopping District, a 231 acre commercial project west of Interstate Highway 55 at the new Sowell Road interchange between Gluckstadt and Canton.

The initial phase of the NeuMarkt Shopping District will be NeuMarkt Outlet Shoppes, a regional outlet mall with tenant spaces for as many as 70 stores owned and operated by national retailers. Opening of the first phase of NeuMarkt Outlet Shoppes is anticipated in the fall of 2008. The NeuMarkt Shopping District will include a variety of traditional and fast food restaurants, local bank branches, grocery, pharmacy, convenience stores and many other shopping venues and service enterprises to the fast growing Gluckstadt area of Madison County.

James T. Weaver, a principal of the development company, has reported significant interest by a number of local companies but that the marketing emphasis to date has been to attract national retailers to the proposed outlet mall. Mr. Weaver indicates that the development company and other developers will have invested in excess of $180,000,000 in building out the project by the time it is fully completed in 8-10 years.

Retail sales from the project are estimated at $250,000,000, annually, when fully developed. Retail activities are expected to generate sales tax rebates and ad valorem tax revenues of approximately $4,600,000 to the City of Canton annually.

The City voted to annex the proposed shopping district at the request of the development company. This will enable the City to assist in financing the construction of the public streets and utilities through the use of Tax Increment Financing. Initial projections also include additional ad valorem tax revenues of approximately $800,000 to Madison County and $1,500,000 to the Madison County School District.

Both the Madison County School District and the Canton Separate School District will share approximately $500,000 annually in 16th Section ground lease payments. The City and the development company acquiesced to concerns expressed by Gluckstadt community leaders about further annexation in the area by agreeing to facilitate the incorporation of the adjoining residential areas into the proposed Town of Gluckstadt. Canton's annexation of the shopping district will not affect the current boundaries of the Madison County and Canton School Districts nor will annexation affect residents or mailing addresses in the area. Bear Creek Water Association and Canton Municipal Utilities will each provide the water supply and wastewater collection services within their respective certificated areas in the shopping district. The South Madison County Fire Protection District will provide first response fire suppression and emergency medical service to the shopping district.

Outlet Mall Could Mean Millions For Canton
CANTON, Miss. -- Madison County and the city of Canton could make millions of dollars from a new outlet mall that's coming to the area. Developers are finalizing plans to build the mall just off Interstate 55 at Sowell Road in Gluckstadt.

The land is owned by the Madison County School District, which will lease it out for $500,000 a year.

Developers said they'll put up $180 million to build the Neu Markt Mall, but construction can't start until Madison County supervisors and the city of Canton agree to help pay back about $17 million. The agreement would not mean higher taxes for residents. Bonds would be taken out by the county and city to help pay for building roads, water and sewer lines. The mall will feature 70 retail stores with four main anchors.

Developer Tim Weaver said it will look like outlets in Destin, Fla., and Orlando."The outlet center is for the value shopper. You can't go to Belk's and be a value shopper unless they are selling the out-of-seasons," Weaver said. He couldn't say which stores are coming yet because they are in the process of signing letters of intent.

Construction could start this summer, with a grand opening in the fall of 2008. Weaver estimated the city of Canton would make $5 million annualy, and Madison County and its schools would get nearly $3 million a year from the mall.

Canton will announce its plans to annex the area, currently in Gluckstadt, this week.

Madison County 04/16/07
Incentives Approved for Outlet Mall
Madison county supervisors have given the green light to a tax incentive program for a new outlet mall. The new outlet mall will be located in the northwest corner of the new south Nissan exit at Sowell Road in Madison County. There are signs up to show where it will be. It will be called Neu Markt. No announcement has been made at this time about exactly which stores will be in the new mall.

"It was a public hearing, and there wasn't any opposition to the plan, so we approved it unanimously," said supervisor Tim Johnson. "I think it's great for the Madison County school district, because they will benefit greatly from this project." The supervisors unanimously approved the tax increment financing for the new mall, which is trying to become part of Canton.

PRESS RELEASE THE CLARION LEDGER FRIDAY, AUGUST 4, 2006
Neu Markt adds new retail flavor
By Nell Luther Floyd
nlfloyd@clarionledger.com

More than $1 billion in commercial developments are under construction or on the drawing board in Madison County. And whether you prefer big-box stores, boutiques or outlets, looks like you’ll find them there in the next few years. In Gluckstadt, plans are under way for Neu Markt Designer Outlet Mall & Shopping District, a 200 acre commercial development to be built on 16th Section Land on the west side of I-55 near the new South Nissan Parkway interchange at Calhoun Station Parkway.

The proposed 400,000 to 500,000 square foot outlet center will serve as the centerpiece for the development, said Rayford Hudson, who is a partner in the project with Tim Weaver and John Jordan.

Representatives from the Prism Co. Inc., the Durham, N.C., marketing and leasing company for The Casino Factory Shoppes of Tunica, a factory outlet mall in Tunica County, are scheduled to visit the site in September, he said.

“We do not know what stores will be there,” he said. “We need a destination for this area, and since we didn’t have an outlet center in this area, we decided it would be a good draw.” The center is scheduled to open in spring 2008.

Hudson was among developers who provided updates about their projects for 300 people who attended the “Who’s Building What…Where…When” luncheon sponsored by the Madison County Chamber of Commerce on Thursday. The growth of residential subdivisions is driving retail development in Madison County, said Tim Weaver, who is among partners putting together Neu Markt.“Retail developers have seen the need, and they’re starting retail developments to support the rooftops,” he said.

Phil Hardwick, a former economic developer who is coordinator of capacity development at the John C. Stennis Institute of Government at Mississippi State University, said much of the retail development is in mixed-use developments that also includes residential and commercial space. “Consumers want convenience and an experience, and that’s what a mixed-use development provides,” he said. “The shopping center becomes a destination. It’s more of an experience than going in and out of a big-box store. You may go in and out of two or three stores and then go find a cup of coffee in a coffee shop.” Also on the drawing board is a new $250 million shopping center named Madison County at Galleria that should open in 2008. The development will be along alleria Parkway, which is off Mississippi 463 in Madison and located between Texaco and Burger King. Among the businesses announced for the center: Target, Office Depot, Old Navy, Bed Bath & Beyond, Cost Plus World Market, Hobby Lobby, PetSmart, Kirkland’s, Stein Mart, Books-A-Million, Rack Room Shoes, McAlister’s Deli and TGI Friday’s.

Hermine Peel, a resident of Madison County, said she’s glad to hear Target is headed to Madison. “It will be great to shop there instead of having to go to the one in Jackson,” she said. Peel said she also would shop at an outlet center, depending upon what stores it includes.

Galleria also will include Tuscany Place, a $300-million lifestyle center with outdoor cafes and istros, specialty stores, boutiques and gourmet shops, Ambrosino said. Shoppers who want merchants new to the area will find some at the $230-million lifestyle center at Renaissance at Colony Parkway in Ridgeland.

Parisian, P.F. Chang’s Chinese Bistro, Barnes & Noble, Ann Taylor Loft, Chico’s, J. Jill, Williams-Sonoma, Soma, Talbots, an Ethan Allen Custom Color Center and White House/Black Market and Hyatt Place Hotel have announced plans to open there. There’s also additional retail along Highland Colony at The Township at Colony Park, a mixed use development that includes Sollberger Watch and Clock, Fusion Coffeehouse, Summer-House, Soulshine Pizza and The Club Express.

The Township at Colony Park includes two retail buildings, and construction should begin soon on the third retail location that also will have office space on the second floor, said Clint Herring, resident of Kerioth Inc. “We have a fine dining restaurant we’ll be announcing in a week or two,” he said. Retail is also planned at Jackson Street Towne Center, a 50,000-square-foot commercial and retail center on Jackson Street in Ridgeland; Harbor Walk, a $600- million development expected to draw tourists with condominiums, offices, a hotel, restaurants and shops.

John Burwell, president of Main Harbor Development, said people may think that developers in Madison County are competing against each other. “We’re not,” he said. “All of these developments are within seven miles of each other. We’re in this together. Nobody is competing with each other.”

PRESS RELEASE

Annexation Seals 20 Million Dollar TIF for NeuMarkt Outlet Shoppes

Canton, MS – August 22, 2007 - Gluckstadt Properties, the developer of NeuMarkt Outlet Shoppes, the new designer outlet center under development on Interstate 55 just North of Jackson, announced today that the annexation of the project into the City of Canton is now complete; thus assuring the project $20 million in tax increment financing (TIF) to be used for on-site roads, water and sewer improvements, and the mall site work. The TIF bond debt will be paid off over approximately twelve years using funds generated by sales tax revenue and the increase in ad valorem taxes.

“We are very happy that the annexation into the City of Canton is now complete. This funding is a substantial building block as we move forward to develop NeuMarkt Outlet Shoppes,” commented James T. Weaver, one of the principals of Gluckstadt Properties. “NeuMarkt Outlet Shoppes is destined to become a favorite outlet shopping experience for visitors from across the Delta region, as well as for a loyal, local clientele. We are committed to making NeuMarkt Outlet Shoppes the premier, upscale outlet shopping destination in the Delta region,” Weaver added.

“NeuMarkt Outlet Shoppes will have a very positive impact on the economy of Canton and on the economy of Mississippi,” stated Janet L. Grady, whose firm, The PRISM Company, is responsible for the leasing of NeuMarkt Outlet Shoppes. “ This new outlet shopping destination will generate an estimated 250 construction jobs during construction, and then more than 350 retail management positions upon opening. NeuMarkt Outlet Shoppes will have over 70 outlet stores at completion. The majority of the outlets are owned and operated by manufacturers of the world’s most popular brands.”

The names of outlet retailers opening in Phase I will be announced in the near future. “We have a compelling mix of apparel, footwear, home furnishings and sportswear outlet retailers in the process of completing their lease negotiations,” stated Grady. “ Madison County and the Jackson MSA offer one of the most desirable outlet retail environments in the nation, and there are a surprising number of national retailers who are currently underexposed in this rapidly-growing market,” Grady said.

NeuMarkt Outlet Shoppes will be located on I-55, Exit 114 and will feature 360,000 sq. ft. of upscale outlet stores. The project will also feature several restaurants and hotels, affording travelers and shoppers a full-service destination stopover.

New Schools Planned for Growth Areas

Madison County Herald, September 18, 2007 Madison County school officials are adding classrooms!

A new middle school is officially on the planning board while construction of a new elementary school begins in October. The two will serve the growing population in the Gluckstadt area that school officials expect to keep rising as more and more new subdivisions are planned and built along the east-west corridor from Yandell Road to Mississippi 22.

"We're not building for five or six years but for 30 or 40 years. We have to take that into consideration," Deputy Superintendent Ronnie McGehee said. "Our growth is averaging 3 percent and we see it sustained."

The Madison County School Board last week approved building a middle school just north of the Madison Career & Technical Center on Calhoun Station Parkway. The new school will ease the burden on the existing Madison Crossing campus on Yandell Road that houses a middle school and an elementary school. When the new middle school opens in two years, it will draw sixth- to eighth-grade students from Madison Crossing and a new elementary in the Mannsdale area on Mississippi 463.

The Madison Crossing building then will be used only for elementary classes in grades K-5.

"The population growth in the zone puts us over capacity and shows the need to house more elementary," McGehee said.

The Madison Crossing campus, which was built for an overall enrollment of 1,000 students, opened in January near capacity on the elementary wing. In August, the elementary school started using portable classrooms to hold the overflow of students. Currently, the elementary school has 687 students and the middle school side has 309. The projected elementary enrollment next fall is 751.

"We need a commitment from the board to build a new middle school in Gluckstadt," Superintendent Mike Kent said. "The rationale for the school is clearly there."

"In other words, we need to get moving," school board President Rosemary McInnis. "We know we need a middle school."

To open the middle school in the fall of 2009, work needs to start now, McGehee said.

Some preliminary work on the 16th Section site has already been done but "it does take time to hit deadlines," he said.

With the board approval, the district can now begin the necessary paperwork and behind-the-scenes steps necessary before the building can be put to bid next spring and have it ready for occupancy by July 2009, McGehee said.

The new middle school will be built with a capacity for 800 students, but McGehee said he expects it to open initially with 200 students in each of the three grades.

Kent said the district's estimated enrollment numbers from its outside consultant have proved accurate and used as by board's basis for starting work on the new Mannsdale elementary.

By 2009, the estimated elementary population for the attendance zone served by Madison Crossing and Mannsdale is 1,061. By 2016, that estimated number of elementary students grows to 1,647. The Mannsdale school will draw students living in areas now served by Madison Crossing and Madison Station elementaries.

The new elementary is being built on 75 acres of district-owned land just past Chapel of the Cross on Mississippi 463. It's set back off the highway on a cleared section in the middle of a ring of tall pine trees.

The site has been cleared and prepped for construction. A pond that will serve dual purposes for water runoff and as an outdoor classroom is being dug.

Bids for the building will be opened today, and the school board is meeting Friday to accept bids so construction can begin in early October. Construction is expected to take about a year.

McGehee said he expects the bids to come in under the $10 million originally budgeted for the school. The district has funds available to build both this school and the new middle school without seeking a bond issue or raising taxes.

The original plan is to build 32 classrooms in three wings that will house 650 students. However, depending on the bids, two additional classrooms could be added to each of the three wings and push capacity to about 820, McGehee said. The building will look like Madison Crossing, he said.

"It's like we took that building and chopped it in half," he said.

"It's anticipated opening with 415 students," McGehee said.

Estimated enrollment is expected to be about 697 by 2016.

Construction will take about 12 months. The decision on whether to open the school in January 2009, shifting students from one school to another, will be made later this school year.

With an elementary school under construction and a middle school not far behind, the district is already planning for a new high school that could be built off Church Road below the Business & Commerce Center.

The high school is being discussed as part of a potential bond issue in 2009 that would generate funds for the project.

McGehee said the proposed design for the high school would be identical to "the footprint of Madison Central."