Lots of potential good news for various locations this month. Some exciting news is that Costco is finally making some progress opening in France with their first store approved. But sadly, there are a couple of places that are sort of languishing due to planning and such (I’m looking at you Corpus Christi). The good news is that the Riverhead, New York Costco will finally be opening their doors on June 26!
Locations opening soon (or recently):
|NORTH LAKES, QLD, AUSTRALIA||May 29, 2014|
|CHEONAN, KOREA||May 31, 2014|
|IZUMI, JAPAN||June 1, 2014|
|RIVERHEAD, NEW YORK||June 26, 2014|
Menomenee Falls, Wisconsin
Costco will be the anchor store in a new mixed use development in Menomenee Falls called Whitestone Station. The new development will be on a huge 65 acre plot that used to be an industrial area by Highway 41/45 and west of Pilgrim Road. This will be the third Costco location in the Milwaukee area. The new Costco will have around 150,000 square foot of space, there will also be another 250,000 square foot of retail space, and 320 apartments across seven low-rise buildings. The 91,000 square foot Wisconsin Athletic Club and Froedtert Health sports medicine facility, that is also part of the development, opened at the end of 2013. It will take several years to build the entire development, with the last of the apartments finishing sometime in 2018. However, some of the building could start as early as this Fall. The final details of the project are still being worked out with the Village board.
Layfayette will be getting a new Costco location as part of the large Ambassador Town Center project at Ambassador Caffery and Kaliste Saloom Road. It seems that the development is in its very early stages, so there is still a lot to work out before the new Costco could open its doors. The development will be on a 125 acre plot of land and will add more than 450,000 square foot of retail space. As a result of the new shopping center there will be new roads built as well through a tax agreement with the parish that would see the infrastructure paid for with bonds that are then paid off over a period of up to 10 years, with all or part of the money that would have been paid in property tax from the new development. The whole project is estimated to create 2,500 construction jobs and 1,100 permanent jobs and a great deal of sales tax revenue. The plan has been approved by the Council and now needs to gain approval from the Lafayette Industrial Development Board before it can move forward. The board was supposed to have a meeting about the incentives for the project yesterday, however, that has been postponed with no new date set yet.
- The Advertiser: Council supports plan for Costco development
- The Advertiser: Costco meeting postponed
Costco could be coming to Jacksonville with a location on Parramore Road, if they can get a few road improvements first. Costco requires that Parramore Road widened and extended to parallel I-295 down to Youngerman Circle. Currently there is a plan between the developers and the city, where the developers will pay for about two-thirds of the road and the city will pay for the improvement of the southern third of the road. The city is still waiting for details about their portion of the cost, but hopefully they will find a way to be able to pay for it.
- The Florida Times-Union: Sunday Notebook: Costco waits for road to be extended on Jacksonville’s Westside
New Britain, Connecticut
If all goes to plan, Costco should be breaking ground on their new location in New Britain off of Hartford Road. Since this new location has been in the works for more than three years with all kinds of issues, this is a big deal to finally get things moving. Some of it was down to contentious talks with the owners of the neighbouring Target that is to share an entryway with Costco. Even though Costco was willing to pay for improvements to the entry, the owners of the property couldn’t or wouldn’t agree to payment terms. So, now there will be a separate entrance for Costco that will run between the entrance to Target and the entrance to the golf course. There’s been lots of work going on to get approvals and funding for the necessary road and infrastructure improvements and changes, so it’s great to see that all come to a positive end. And hopefully, the groundbreaking in August will actually go off without further issue.
The new shopping center development that may house the new Costco location could be breaking ground in a month, according to the developers. However, the project needs to be approved by the city council and the necessary bonds on behalf of the developer need to be in place before infrastructure works can begin. The city is requiring the bonds to protect themselves against half finished development projects, as were seen in the aftermath of the 2008 economic downturn. The developers are estimating that the first retailers could be opening about 12 months after they start construction. Of course, there’s been no real confirmation that Costco will be a part of this project at this point, so we’ll all just have to keep our fingers crosses that it is more than rumor.
Midland and Odessa, Texas
Could there be a new Costco in the works for Midland or Odessa? Midland and Odessa developers are working very hard on drawing Costco to one of the two areas. Ideally, Costco would like a location between Midland and Odessa so that they could draw shoppers from both areas. One possible location for a new Costco would be the Dorado Center, a planned shopping center near Highway 191 and Faudree Road. The Dorado Center has two tenants committed already but the developer is unable to name them due to confidentiality agreements, but neither of them is Costco (from the descriptions). However, they are in talks with a third tenant that is described as a “large national retailer”.
Corpus Christi, Texas
It looks like this is a Costco location that isn’t going to happen after all. Talks with the landowner for the site where Costco had wanted to build their new store have been going on for two years, which doesn’t sound terribly promising. Costco is also looking at another site in Corpus Christi. But it seems that the real problem and reasons for the deal breaking down is the tax incentives that Costco is looking for from the city. Costco wants $9 million in tax incentives, however, the city is only willing to give them $5.7 million. From comments that I have read on the stories for this issue, it seems that the city has granted huge tax incentives to other retail projects so I’m unsure what the problem is with offering Costco the full $9 million in incentives. But unless the city can come up with more in the way of incentives, it is unlikely Costco will have a Corpus Christi location anytime soon.
- KRISTV.com: Big Development Plans Attracting New Retailers in Corpus Christi
- Corpus Christi Caller-Times: Building Our Future: Costco scopes out Corpus Christi
- Corpus Christi Caller-Times: Public left out of Costco talks in Corpus Christi
Guelph, Ontario, Canada
The new Costco in Guelph is going to be opening its door on July 25! I must warn you though that Costco is still reporting this as opening in August. This project started being built in 2013 with hopes of being open in Fall 2013, however, there’s always issues and these came in the form of roadblocks by the Ontario municipal board. And then they were aiming for December 2013 but the weather brought heavy rain that caused delays. And then they weren’t able to get the asphalt in the parking lot down before Christmas, so that caused delays too. So, with several things causing delays, it is great that they are finally on track to open!
France’s National Commercial Commission (NACC) has approved Costco’s plans to open their first location in France. The new 12,000 square metre/ 129,000 square foot Costco will be built in Villebon-sur-Yvette in Essonne, a suburb of Paris, with an opening in Fall 2015. This is a big step for Costco since it will be a whole new market. Apparently, Costco is hoping/planning to build 15 locations across France in the next five to ten years. They plan on having locations in Lyon, Nice, Marseille, Toulouse, and Bordeaux, as well as four locations around Paris. Of course, you have to wonder how they will be received in France. I have talked to a number of people in France though that would love to be able to shop at Costco, so it might get a warmer reception than many are anticipating. There is some feeling that since other non-French stores have had such trouble opening in France that Costco will suffer as well, but I am not sure that you can extrapolate from Tesco, for instance, to Costco. It will certainly be interesting to see their first store in France though!
- Kantar Retail IQ: Costco Obtains Approval for its First Club in France
- Les Echos: The U.S. giant Costco wants to open 15 hypermarkets in France
Yangjae, South Korea
I just wanted to let everyone know that the Costco in Yangjae will be undergoing some renovations over the next few months. The Bakery renovations will run from June 8 through July 13 and the Meat and Deli area will be undergoing renovations from July 1 – August 3. During the renovations there will only be a limited selection across those areas.
Upcoming Holiday Closures and Hours
- Costco Canada
- Quebec’s National Holiday: Tuesday, June 24, 2014 all locations Open;
- Province of Quebec locations CLOSED.
- Canada Day: Tuesday, July 1, 2014 all locations CLOSED.
- Quebec’s National Holiday: Tuesday, June 24, 2014 all locations Open;
- Costco Australia
- Queen’s Birthday: Monday, June 9, 2014 all locations Open 10 am to 5 pm.