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Big box deal reached.

Downtown merchants and mall operators have reached peace with Wal-Mart just prior to an Ontario Municipal Board hearing in Sault Ste. Marie. First Professional Shopping Centres reached an agreement with The Downtown Association and Algoma Central Properties, owners of the Station Mall. It paves the way for Wal-Mart to begin construction of a power shopping centre in the city's north end. As part of the settlement, Wal-Mart cannot open its doors before January 2003, cannot expand the store beyond its 9,894-square metres and cannot apply for expansion of the entire development before June 2006. First Professional initially wanted to build a Wal-Mart with a half-dozen smaller retail outlets. The developer also becomes an associate member of the Downtown Association, paying $10,000 per year to the association for the next five years, similar to an arrangement they have in Cobourg and Orangeville.
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Publication:Northern Ontario Business
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2001
Words:143
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