Burk Wal Mart Building Getting New Tenants - Newschannel 6 Now | Wichita Falls, TX

Burk Wal Mart Building Getting New Tenants

Texoma crews are working hard to renovate the old Wal Mart building in Burkburnett. Investors are bringing a Canton-style market right here to Texoma.

The Burkburnett Development Corporation voted Tuesday to approve $30,000 in incentives for the new venture. Investors and city officials said the Red River Marketplace could generate up to $1.4 million in sales tax revenue for the city annually.

The market will hold 252 vendors inside and the owners are seeking permission to add more outside. The market will also hold a lunch-counter style restaurant and will host live entertainment for shoppers. And, the market will only seek vendors with quality merchandise and handmade crafts. "We don't want junk," said President and General Manager Jack Jones. "We're looking for new merchandise."

Work is expected to be finished by the July 19th viewing. It is scheduled for its grand opening August 14th and 15th. The market will be open on the weekend before the third Monday of each month.

The incentive payment will still need to be approved by the Burkburnett Board of Commissioners. This will be an agenda item at the July 19th meeting. If the venture does not bring in expected tax revenue, the money will be owed back to the city. The investors would pay back $10,000 a year for three years if enough revenue is not generated.

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