I’ve only got a couple of little pieces of news about possible new locations this month. I guess March is a slow time for real estate planning. I did want to say a big ‘thanks’ to all of the people that are keeping up the constant updates about the progress on the Farragut warehouse that should be opening this fall sometime. It’s really fun hearing about the progress as it goes along. And if any of you want to send in a photo of the site, just send me an email, I’d be happy to post it!
It looks like the four locations in Idaho might soon be joined by a fifth Idaho Costco warehouse in either Ammon or Idaho Falls. While these cities aren’t too far from the location in Pocatello, I’ll bet it would be nice for everyone living around there to not have to drive the hour or more to get to a Costco. Since the cities are right next to each other, either one choice would probably make shoppers happy, as long as Costco chose to actually open a store in the area. However, the cities are both giving their best offers to try to win the new location because it would be so good for their tax base. Idaho Falls has said that they will waive $500,000 in fees to entice Costco to build there. While, I don’t have an exact figure, the city of Ammon has also said that they will waive the normal fees that would be charged to a new business (that just seems a bit vague to me). So, it looks like the decision is up to Costco to figure out which city offers the more attractive proposition.
North Riverside, Illinois
If all goes well, there might be a Costco location coming to North Riverside. However, it looks like that is still a big ‘if’. It seems that Costco is in discussions with the real estate development group that owns the property at 26th Street and Harlem Avenue about building a new warehouse there. So far there has not been a solid deal but they have apparently discussed signing a letter of intent with the development company. There is an existing building on the site that it seems Costco would like torn down (who can blame them?) but the development company won’t agree to that until they have a firm deal (and who can blame them?). And then of course there is the necessary financial incentives from the village of North Riverside that would be needed to really get Costco to commit to the new location. Unfortunately, it sounds like the mayor might be a little lax in getting right on the discussions with Costco. He says no one has come to him saying, “here’s the deal”. Don’t mayors and city officials try to entice new businesses to come to their location by actually talking to them? So if you live in North Riverside and would like to see a Costco instead of the old, (I’m guessing) abandoned warehouse at 26th and Harlem Ave, you might want to give Mayor Krochmal a call or an email to light the fire and get some progress. Of course, I’m hopefully that they have been having discussions with Costco and just haven’t articulated that well to the reporter for this story.