March 12, 201412 yr Mall Road in Florence is poised to land two big-box tenants that have long shown an interest in one of the region’s premier shopping destinations. Matthew Grever of Anchor Properties has confirmed that Costco and Menards are expected to be the anchor tenants at the 63-acre site commonly referred to as the Berkshire Farm, which will be developed by Mall Road KY LLC. “They would be targeted for restaurants and other uses that are currently not in the city of Florence,” Grever said. “There will be a residual parcel of about 10 acres for future tenants.” That parcel is identified as a site for sporting goods, hotel or office use. A tenant has not yet been identified, but city officials acknowledge that an outdoors merchant such as Cabela’s or Bass Pro Shops is high on their list of preferred retailers. Costco, Menards coming to Mall Road
March 12, 201412 yr Author More from the article: The City of Florence is not providing financial contributions or incentives for the project itself. Whalen said the city’s participation will focus on infrastructure improvements to ensure the roadways will be built to city standards and alleviate traffic congestion. The state of Kentucky has committed $2 million, and the city has committed up to $3 million to infrastructure improvements on the site. Heights Boulevard will also be extended through the development to U.S. 42 to accommodate traffic. The developers estimate that the businesses at Florence Heights eventually will generate $17 million in local taxes over 30 years. It is also expected to provide $3 million in property taxes and $8 million in payroll taxes for the city and Boone County, as well as $6.5 million for Boone County Schools during the period. “The state of Kentucky thinks this a no-brainer because of the sales tax and other revenue associated with a project of this size,” Whalen said. Based on the current 6 percent state sales-tax rate, the businesses at Florence Heights are projected to produce more than $7 million per year to the commonwealth, or roughly $200 million over 30 years. Construction is expected to begin in earnest this summer, with a targeted completion date of early to mid-2015.
March 12, 201412 yr Author Costco is AWESOME. Love going to the one in Louisville's East End. I have consistently heard Costco is the bomb and better than Sams.
March 12, 201412 yr I have consistently heard Costco is the bomb and better than Sams. I think so. They get really high quality stuff. Buy the extra large peanuts once and you'll never be able to buy any other peanuts ever again. My favorite snack food. They also do a really nice job with in-house deli items like chicken salad and pot pies.
March 12, 201412 yr Never been to a Costco. And I've never heard of Menards until right now.Save big money at Menards...get used to hearing that. :lol2:
March 12, 201412 yr Interesting, when Costco put the bids out before they built the Lexington Store, Florence was a candidate. Costco stated after they picked Lexington they were not going to build another KY store.
March 12, 201412 yr Save big money at Menards...get used to hearing that. :lol2: Always wondered why there was never one in NKY.
March 12, 201412 yr Save big money at Menards...get used to hearing that. :lol2: Thanks for the info. :lol2:
March 12, 201412 yr Love Costco....The large tubs of the little peanut butter filled pretzels are proof that God exists and loves us. I might go broke once this thing opens up. :lol2:
March 12, 201412 yr Never been to a Costco. And I've never heard of Menards until right now. You really are 8, aren't you? Blows my mind that someone has never heard of Menards.
March 12, 201412 yr You really are 8, aren't you? Blows my mind that someone has never heard of Menards. The chain just hasn't made its way to Cleveland Street.
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