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DEVELOPMENT Approval delayed for new Central Point Costco Concern over traffic flow delays permit approval until at least February By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 6, 2016 @ 4:58 pm By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 6, 2016 @ 4:58 pm --> Two Costco requests approved The Central Point Planning Commission approved Costco's site plan and sign variance requests Tuesday night, but the more important conditiona... » Read more X Two Costco requests approved The Central Point Planning Commission approved Costco's site plan and sign variance requests Tuesday night, but the more important conditional use permit will have to wait until Feb. 2. Traffic engineering material from the city of Medford arrived too late in the process to be properly addressed by Costco representatives, essentially pushing the decision back a month. Costco's real estate development chief Peter Kahn told the commission that the company remained intent on putting a new roof on a new building rather than a new one on an old building. The commission left the comment window open until 4:30 p.m. Tuesday, Jan. 12, during which comments may be submitted in writing or in person. After that, Costco will be given seven days to respond. There will be no additional public input Feb. 2, said Tom Humphrey, community development director. The commission is expected to make its decision then, followed by a two-week appeals period. Humphrey said Costco is committed to spending $377,000 to assist in a new right-turn lane at the northbound freeway off-ramp. The balance of the projects costs will come from system development charges and Oregon Transportation Department funds.   Humphrey said that Costco will also spend another $105,000 to assist with a traffic signal installation at Biddle Road and Airport Road, and improvements on Morningside Street, the first crossroads after Table Rock Road crosses over the freeway. Humphrey said Costco will also pay for barriers to prevent left turns into the 18.28-acre property from Table Rock Road.   » Social News p bs:newslist StartDate="20121121" EndDate="p bs:datecalc Months="3"" DateSort="1" UseObjects="1" ObjectClass="81" Taxonomywords="2325,665" ExactTaxonomyMatch="1" Image="1" Count="4" --> Costco has yet to obtain final approval to build a 161,992-square-foot warehouse in Central Point, yet suitors already are queuing up in anticipation that the existing Crater Lake Highway property will soon be available. Although the Issaquah, Wash.-based membership retailer cleared two of three Central Point Planning Commission hurdles Tuesday night, work on the project was pushed back a month when traffic flow issues brought up by the city of Medford delayed potential conditional use permit approval until Feb. 2. Once Costco departs its present confines sometime in 2017, you won't likely see a cavernous hulk wasting away. "We usually build in pretty desirable sites," said Mario Omoss, Costco's Northwest region senior vice president. "When we outgrow current locations by parking or square footage, we don't have trouble selling our previous properties. Normally it's no concern." Local commercial real estate agents concur, the 12.5-acre site Costco acquired for $1.29 million in August 1991 remains a gem. "There's been some speculation that Home Depot might be interested," said Curt Johnson, an agent with Harcourt's Oregon Opportunities. Home Depot and Lowe's pursued a nearby location a few hundred yards to the south that became Eagle Hardware in the early 1990s. Lowe's then acquired Eagle in 1998, while Home Depot built in Phoenix. But even then, Home Depot representatives said the Atlanta-based home improvement retail giant considered the Medford area a two-store market. "They're not shy about taking on the competition," Johnson said of Home Depot. "If they can set up camp right next door, I'm sure they would." The Crater Lake Highway site has all the right attributes, said John Hamlin of Coldwell Banker Commercial NW. "The traffic, freeway access and visibility make it a desirable site," he said. "The extension of Owen Drive has improved traffic circulation considerably. I can't think of anything that makes it undesirable." Although there could be other uses, most likely it will remain a retail center. The space could also be divided, although that would require additional costs among a buyer or joint tenants. "There will be one or two tenants for that building if not a buyer for the whole thing," said Tom Fischer of Coldwell Banker Commercial NW. "There may not be a lot of people nosing around for 136,000 square feet, but there are people looking for half of that." The challenge, however, is the cost associated with mechanical, electrical, heating, ventilation and air conditioning. "It would not be easy, but it would be justified," Fischer said. At current rates, the present Costco building would lease for roughly $68,000 monthly, he said. The six-lane fueling station, which keeps busy roughly 15 hours a day, is another matter. Omoss said he was unsure whether Costco would simply decommission the site or make it available to another vendor. Safeway operates a fueling station near its Medford Center store, but there isn't one associated with Crater Lake Plaza. "I suppose they could partition off that portion and offer it to somebody else," Johnson said. "The way Costco operates is on large volumes with thin margins. "My guess is that Costco would not allow someone to operate a fueling station that would cut into their business." Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness and on Facebook at https://www.facebook.com/greg.stiles.31. By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 6, 2016 @ 4:58 pm » Comment or view comments Terms of Service /* $( document ).ready(function() { // Jquery mobile is trying to style the button and leaving a blank gry button on top of a white button $("#viafouracoms .vf-comment-controls li.vf-right").html(' Submit '); });*/ » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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