Chelsea inked a 75-year ground lease that will pay the tribe about $1.2 million annually. The deal was completed last week. Construction is expected to begin this spring. The upscale outlet mall is slated to open one year later with more than 100 stores.
New Jersey-based Chelsea Property Group owns 19 outlet malls in the US that house high-end retailers like Burberry, Coach and Gucci. The Tulalip project will Chelsea's first outlet mall on the West Coast.
Two weeks ago, Tulalip Casino announced it would layoff 240 employees, saying the layoffs were made "to increase the efficiency" of its operations. Casino management made a point of saying the layoffs "are not performance based."
The $72 million casino is one of the state's largest. The cuts reduce its work force to about 1,400 employees, which still qualifies it as one of Snohomish County's largest employers.
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