By Paris Goodnight
Salisbury Post
Construction efforts at the new Kohl’s department store are continuing on schedule, with walls up at the Wallace Commons site and the opening still planned for this fall.
“It’s full steam ahead,” according to Michael D. Smith, a principal with developer Collett & Associates in Charlotte.
On the other hand, Home Depot, which just bought the property off Julian Road where it planned to build, has decided on a slower pace.
A spokeswoman for the hardware and garden retailer said issues like higher construction costs have led the Atlanta company’s part of the project to “a little bit delayed.”
She said there’s no firm timetable on how things will progress or when a planned opening could be scheduled.
A deed filed March 31 in the Register of Deeds office noted Home Depot paid Wallace Commons LLC $3.5 million for just under 14 acres at the property off Interstate 85 at Julian Road.
Smith said Home Depot bought the land and will put up its own building separate from Collett & Associates’ part.
The entire project is expected to encompass 45 acres and be built out in stages.
Smith said that negotiations continue with other potential tenants for the first phase that includes 25,000 square feet of shops and five outparcels along Klumac Road. He said he’s in discussions with several national restaurant chains.
Victor Wallace noted the country has gone through a number of slowdowns in the economy, when big companies like Home Depot decide to put some projects on hold. He said it’s especially evident in election years.
But the watching and waiting isn’t affecting the rest of Wallace Commons.
“We’re real excited about the project,” he said. “Hopefully, Home Depot will break ground sooner rather than later.”
Plans approved by city officials last summer laid out a two-phase project of 358,535 square feet. Kohl’s was listed at 68,890 square feet and Home Depot’s, at 130,953 square feet.
Contact Paris Goodnight at 704-797-4255 or pgoodnight@ salisburypost.com.