New Wal-Mart be­ing built on Cum­ber­land Street

Seaway News - - NEWS - Todd Li­hou

CORN­WALL, On­tario - A new Wal-Mart is be­ing built in Corn­wall on Cum­ber­land Street.

An of­fi­cial with the de­vel­op­ment com­pany has con­firmed the new fa­cil­ity will be a so- called “su­per­centre” with ameni­ties like fresh food.

“It will be just like the ones they have in Kingston and Brockville,” said Den­nis Eber­hard, vice- pres­i­dent of de­vel­op­ment for Smart Cen­tres.

Coun. De­nis Thibault and eco­nomic de­vel­op­ment man­ager Marc Boileau both con­firmed Tues­day morn­ing that Wal- Mart will an­chor the new de­vel­op­ment that is tak­ing shape on Cum­ber­land be­tween Sev­enth and Ninth streets.

The city re­cently ap­proved a slew of tax ex­emp­tions for the prop­erty to­talling 44.5 mil­lion.

Coun­cil­lors ap­proved the tax in­cre­ment sav­ings plan for Corn­wall South In­vest­ments Inc. (CSI) a di­vi­sion of Smart Cen­tres, which is in the process of con­vert­ing the land - for­merly owned by Dom­tar - into a re­tail plaza.

CSI is look­ing to at­tract four re­tail stores, in­clud­ing a large an­chor out­let ( pre­sum­ably Wal-Mart) to the prop­erty.

The con­struc­tion work will in­crease the value of the prop­erty to about $ 40 mil­lion from $3.4 mil­lion - which will also aug­ment tax rev­enue to tune of about $1.6 mil­lion.

The city cur­rently col­lects just $50,000 on the prop­erty.

Eber­hard said con­struc­tion has be­gun at the prop­erty, but cau­tioned res­i­dents aren’t likely to see steel fram­ing go up un­til late spring.

It’s ex­pected that the first stores in the 22-acre de­vel­op­ment will open in Jan­uary of 2015. Wal-Mart, said Eber­hard, is likely to be one of those stores.

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