Posted by Dan Whisenhunt
fourteenth April 2018
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This story has been updated.
The long-awaited Costco at the North DeKalb Mall is about to pass, a real estate lawyer confirmed.
Residents in the area received a notice in recent days indicating that the plans are evolving.
Costco is not mentioned in the message, but the company would probably want a gas pump, which is a popular feature for the retail chain. The company has long refused to comment on its plans for the mall. Last June, a well-placed source Decaturish said that Costco is hoping for an opening in 2020.
Kathy Zickert, a Sterling Organization attorney who owns the mall, confirmed in an interview with Decaturish that Costco is coming to the mall and could open in 2020 at the earliest. But that's not all. The refurbishment is used in a mixed way and comprises 450 apartment buildings – apartments and possibly townhouses – as well as a 152 key hotel. There would be restaurant and retail space. She said at least two existing tenants – the AMC Cinema and the Burlington Coat Factory – would continue their leases during the refurbishment.
"It will be Costco, retail, restaurants, office, apartment buildings, city homes," she said. "We will have everything."
Costco declined to comment. Attempts to reach Sterling for comment were unsuccessful.
Zickert said that Costco might not be opened until 2021. Due to the size of the project, it must be considered by the Atlanta Regional Commission as a development of regional influence.
I do not know why everyone is so excited about this meeting because it's just a standard pre-registration community meeting you need to have before you sign up for a renewed zoning, "she said I've already met with the community and I expect these meetings to continue. This is just the formal one that needs to take place. We are a project large enough that it will be a development of regional influence. Even if we submit tomorrow, which we do not do, it will not be heard until September anyway. So there's plenty of time to deal with the situation and respond to neighbors' concerns, whatever they may be.
The possibility of opening a Costco in the mall has been debated for years and the company is approaching. A deal to be opened in the mall around 2008, just before the economy imploded.
Currently the mall is mainly occupied by short-term rental companies.
The mall was built in 1965. In a previous life, Macy's was a department store owned by Rich.
When Sterling Corporation bought the mall in 2014, it was said it was planned to turn the 622.97-square-foot space into an open-air mall concept.
Sterling paid $ 15.5 million for most of the mall in 2014 and paid another $ 10 million for the Macy's place in 2015. The closure of Macy's renewed interest in the space as the retailer was an obstacle for Costco to open a store there. "Maccy's Costco would not be able to access give to his unused parking lots that held the project.
Zickert wanted to let the public know that the development will not include the floodplain on the property, an idea that generated public opposition in previous discussions
"The demolition of the mall avoids that," she said.
This is an evolving story and will be updated as more information becomes available …