HOUSTON, Oct. 28 /PRNewswire/ -- Shoppertainment(R) is here! Based on traffic this morning and early afternoon, more than 122,000 people are projected to have attended the grand opening of Katy Mills. The 1.3 million sq.-ft. (GLA) shopping and entertainment destination is located 25 miles west of downtown Houston, at I-10 and Katy-Fort Bend Road. Shoppers are expected to spend an estimated $5.2 million on grand opening day and $16.2 million over the four day shopping weekend. "The response to the grand opening of Katy Mills has been extraordinary," said Laurence C. Siegel, chairman and chief executive officer of The Mills Corporation. "Katy Mills offers a dynamic experience, and it will quickly establish itself as the leading shopping, dining and entertainment destination in southeast Texas." With 200 retailers, including manufacturer and retail outlets, off-price retailers, category dominant stores, and unique dining and entertainment venues, Katy Mills is changing the way Texans think of shopping. Visitors to Katy Mills experience "Shoppertainment(R)," the ultimate combination of shopping and entertainment created by The Mills Corporation. Great retailers like Off 5th Saks Fifth Avenue Outlet, Brooks Brothers Factory Store, Mikasa Factory Store and Kenneth Cole New York provide shoppers with tremendous variety and outstanding prices. Interactive retailers and entertainment venues such as Bass Pro Shops Outdoor World, F.Y.E. -- For Your Entertainment, NASCAR Silicon Motor Speedway and a 20-screen AMC theatre are a small sampling of the experience Katy Mills has to offer. Katy Mills is expected to attract 18 million visitors each year coming from a 100-mile radius and beyond. More than 3,000 new full and part-time jobs are being created by Katy Mills. By the end of the first year's operation, retail sales are anticipated to exceed $320 million from the mall alone, and another $400 million a year once the surrounding area is fully developed. The mall will also generate new business for other merchants within a 20-mile radius. Over the next 20 years, the project is expected to generate more than $1.7 billion in tax revenue to the City of Katy, Katy Independent School District, Fort Bend County and the State of Texas. In keeping with its tradition of assisting local communities, The Mills Corporation created MATCH -- Mills Access to Training and Career Help -- the shopping center industry's first all-encompassing training and jobs program for individuals leaving public assistance. In partnership with local non- profit and government organizations, Katy Mills will offer employment and benefits such as childcare, transportation and career assistance to qualified MATCH participants. Katy Mills is the first Mills to introduce this innovative program. Today, more than 150 MATCH participants began work at various retail outlets. Community organizations that Katy Mills has committed to help include the Katy Prairie Conservancy and the Brookwood Community Store. Katy Mills has donated $200,000 and made a commitment to support additional fundraising and awareness campaigns for the Katy Prairie Conservancy, a non-profit organization that works with landowners, developers, conservationists, residents and hunters to preserve and replace critical natural habitat. Katy Mills has purchased much needed ceramic equipment valued at $10,000 for the Brookwood Community Store, a non-profit residential community designed to assist disabled individuals. The store is located at Katy Mills and carries a selection of handcrafted bowls, picture frames, lamps, Christmas ornaments and more. Katy Mills hours of operation are Monday through Saturday 10 a.m. to 10 p.m., and Sunday 10 a.m. to 8 p.m. from grand opening and into the holiday season. Katy Mills is a joint development of The Mills Corporation and Kan Am. The Mills Corporation is a self-managed real estate investment trust (REIT) based in Arlington, Va., that owns, develops, leases, manages and markets a portfolio of 10 market dominant retail and entertainment destinations (nine Mills and one Block) and 11 community shopping centers totaling approximately 16.8 million sq. ft. in 13 states. The company has six projects under construction and/or development in the United States and one in Toronto, Canada. The company's Internet address is www.millscorp.com. Katy Mills' Internet address is www.katymills.com.
SOURCE Mills Corporation