The Falls, a Development of Regional Impact (DRI), is a developing retail tourism destination located on 120 acres within the City of Bristol, Virginia at Interstate 81’s Exit 5.
Cabela’s, a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise, will bring their first store in the Commonwealth to The Falls. The nearly 90,000-square-foot store with a 10-acre footprint is set to open Fall 2015. The Bristol store will also feature an 8,000-square-foot power sports shop, which will house a full line of boats, all-terrain vehicles and related products.
In the phase one build out, Cabela’s will be joined by another anchor, a restaurants and a travel center; Zaxby’s and Sheets.
With a total project cost of over $200 million, development of The Falls property will occur in structured phases, and when complete, will house 1.47 million square feet of retail space, garner over $500 million in annual sales and support the direct job creation of 2,516 full time equivalent employees. The Falls will be home to a diverse offering of retail options, including grocery, apparel, sporting goods, personal care and department stores, as well as restaurants, hotels, green spaces, entertainment and residential and lifestyle areas.
At the heart of the project, lies an undeniably strong tourism development component. With a goal to draw travelers off the interstate and have them follow the natural corridor from Exit 5 to Bristol’s thriving historic downtown district, onsite visitor services will allow The Falls to become a logical point of introduction to the city, and to serve as a gateway to the many visitor experiences Bristol has to offer.
The Falls is a project with the ability to reshape the economy of not only Bristol, Virginia but also the region, drawing shoppers and visitors from over 150 miles away and generating $47.6 million in new tax revenues.
Sheetz, Zaxby’s have also been announced.