Birmingham helps Bayer Properties lure retailer from Homewood - WBRC FOX6 News - Birmingham, AL

Birmingham helps Bayer Properties lure retailer from Homewood

By Sherea Harris

BIRMINGHAM, AL (WBRC) - Brookwood Village could lose one of its retailers to another competing shopping center. The Summit wants Gus Meyer to relocate into it's shopping plaza.

The owners of The Summit, Bayer Properties, are working on a project that would move the retailer from Brookwood Village.

Bath and Body Works and Express would move to another location at The Summit. The two spaces would be renovated to become the site for Gus Meyer.

Bayer Properties needs $500,000 in incentive money from the city of Birmingham to attract the retailer.

"Out of all the money the city will be investing is actually being paid for out of revenue generated by the phase or Gus Meyer," said Bayer Properties' David Fields. "In particular, the city is paying no upfront dollars but rebating off of revenue generated from The Summit."

"I think it adds to the statue of The Summit like when they got Saks Fifth Avenue there. This continues to push The Summit to the top of the heap of leading retail outlets," said Mayor William Bell.

Budget and Finance and Economic Development Committees, approved the proposal from Bayer Properties.

The proposal has to go before the council for a vote.

If approved by the council, construction will begin in July. The store would open by February of 2011.

Copyright 2010 WBRC. All rights reserved.

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