The Joliet City Council has approved an updated development agreement to advance Rock Run Collection, a 310-acre mixed-use destination designed to position Joliet as a premier regional destination for shopping, dining and entertainment.

The agreement is structured to create thousands of jobs, generate new long-term revenue for the City, and protect taxpayers through a performance-based model that ties public investment to measurable results, according to a press release from the city.

Years in the making, the agreement builds on momentum already underway at Rock Run Collection and is designed to accelerate development, strengthen leasing activity, and guide the next wave of buildout for the hybrid lifestyle center and entertainment district.

A key catalyst for the next phase is Dick’s House of Sport, a new retail concept from Dick’s Sporting Goods that goes beyond traditional sporting goods retail by combining a full-line store with interactive athletic experiences, training spaces, and sports-related programming.

Dick’s House of Sport will serve as the anchor tenant for the next phase of the development helping to attract big-name national retailers and elevating the overall quality and scale of the development.

“Rock Run Collection represents a transformational investment in Joliet’s future, and Dick’s House of Sport is a game-changing anchor that helps the development reach its full potential’,” said Mayor Terry D’Arcy in the release.

“This isn’t just about tenant, it’s about creating a destination that attracts high-quality retailers, generates jobs and drives long-term economic growth. This agreement allows us to build on real momentum already happening on the ground while ensuring growth continues in a disciplined and responsible way. Just as importantly, it protects taxpayers through a structure that ties public support directly to measurable success.”

As part of the agreement, the City has structured a $37 million general obligation (GO) bond on a pay-for-performance basis, meaning no funds are provided upfront and financing is issued in phases as the project meets key milestones including store openings, executed leases and vertical construction.

The GO bond will be repaid using only new revenue generated by the project, specifically sales tax., city officials said in the release.

These payments will not be made upfront and will be paid only after the City receives revenue generated by the development. This ensures the City is paid first and significantly reduces financial exposure.

“This structure ensures accountability by the developer at every stage,” added D’Arcy. “The City only carries financial risk in proportion to the project’s success against clearly defined performance measures.”

Located at the intersection of Interstates 55 and 80, where approximately 228,000 vehicles pass daily, Rock Run Collection is poised to become a major regional draw and is designed to be accessible across a wide range of price points, ensuring it serves residents and visitors with diverse needs and preferences.

Envisioned as a hybrid lifestyle center combining retail, dining, residential, and entertainment uses, Rock Run Collection will serve both daily needs and regional visitation.

This next phase of the project is expected to generate significant economic impact, including approximately 8,000 construction jobs and 5,000 permanent jobs across multiple sectors.

With this approval, Rock Run Collection advances as a cornerstone of Joliet’s long-term economic development strategy, bringing together commerce, entertainment, and community in a next-generation destination, city officials said in the release.

In a separate release, Cullinan Properties officials applauded the City of Joliet’s approval of a strategic investment supporting the addition of a DICK’S House of Sport at Rock Run Collection, further strengthening the development’s position as a leading super regional destination serving a broad regional market.

Rock Run Collection is already active with infrastructure complete, residents living on site, and new businesses open and opening. Located at the intersection of Interstate 55 and Interstate 80, the Rock Run Collection reaches a trade area of more than 10 million people within a 100-mile drive, positioning it as a true super regional draw.

“We are incredibly grateful to the City of Joliet for their continued partnership and leadership,” said Diane Cullinan Oberhelman, Chairman of Cullinan Properties, in the release.

“Rock Run Collection is already delivering value to the community through new residents, increased visitors from a large radius, and growing business activity. This approval allows us to build on that success by adding an experience that supports jobs, generates additional revenue, and gives people even more reasons to stay, spend and gather in Joliet.”

A key driver of that momentum has been the success of Hollywood Casino Joliet, which has quickly established itself as a major entertainment venue for the region. The property’s ability to attract a wide range of visitors, including a strong under 21 audience through its entertainment and dining offerings, has introduced a new level of energy and accessibility that is unique in the region.

DICK’S House of Sport will build on that energy by adding a highly interactive, experience driven concept designed to engage athletes, families, and the broader community.

“DICK’S House of Sport is designed to be much more than a retail store. It is an immersive experience where athletes of all ages can try new sports, train, and engage with the game in a hands-on way,” said Vince Corno, Senior Vice President of Real Estate at DICK’S.

“From a turf field to interactive experiences throughout the store, House of Sport brings a level of energy and connection that goes well beyond traditional retail.

“We continue to be very thoughtful about where we bring this concept, and Joliet offers a strong opportunity given its location and regional reach. Rock Run Collection provides the kind of regional draw and visibility that allows House of Sport to become a true destination.

“We are looking forward to creating a space that brings people together, supports local athletes, and becomes part of the community fabric.”

As a nationally recognized anchor, DICK’S House of Sport is accelerating leasing activity across Rock Run Collection, attracting additional retailers, restaurants, and entertainment uses that benefit from the increased traffic and visibility it brings.

“This is an expansion of something that is already working,” said Maria Pope Toliopoulos, Chief Strategy Officer of Cullinan Properties.

“Rock Run Collection is already drawing from a wide regional base. DICK’S House of Sport will join Hollywood Casino, Chipotle, Drury Plaza Hotel, Ricky Rockets, Culvers, Chick-fil-A and more. It also sends a strong signal to other national tenants that this is a place they need to be.”

The growth of Rock Run Collection continues to drive both near term and long-term economic impact through construction activity, permanent job creation, and increased sales tax revenue generated by both local spending and new visitors entering the market and is creating the platform for continued regional growth as well as enhancing existing revenues throughout the city of Joliet.

“Every addition at Rock Run Collection is about building on momentum and delivering more for the community,” added Oberhelman.

“This is about giving people more options, more convenience, and more experiences right here in Joliet, while also opening the door for continued regional growth and investment.”