Developer warns five year delay could cost Waterloo a Costco
Posted Jun 25, 2014 04:50:31 AM.
This article is more than 5 years old.
The developer behind a proposed Costco for Waterloo is appealing conditions set out by council.
Rice Commercial Group does not want to wait 5 years to build the members only warehouse store and has filed an appeal with the Ontario Municipal Board.
Staff had said Five years is how long it would take for the projects conditions to be met, including traffic studies and roadwork in the Erb Street West area.
Waterloo council approved the construction of a Costco at 924 and 930 Erb Street W back in April.
But before shovels go in the ground, council wanted a major traffic analysis to be completed, presented at a public open house, and approved by the city.
Rice Commercial Group’s Vice President of Development John McGovern says, according to The Record, a five year delay could cost the city a Costco if the store decided to deploy their resources elsewhere.
Some Councillors and area residents were concerned traffic in the already congested area would become even worse with Costco customer traffic.
McGovern says they hope their appeal with the board will allow the background work to be done as quickly as possible.
