Pleasanton council rejects Home Depot
posted by admin in Home DepotAfter learning a second Home Depot in Pleasanton would result in smaller, local home improvement stores losing significant sales revenue, the City Council cited its social responsibility to the community in asking a developer to come back in January with alternative retail options.
At a meeting last night, the council asked Regency Centers to consider courting smaller businesses, such as book stores and gourmet grocery stores, for their proposed 200,000-square-foot shopping center in eastern Pleasanton.
Even though a majority of the council members granted preliminary approval to the development with the big-box retailer in May, they admitted Tuesday they were persuaded by more in-depth economic and traffic analyses to do a 180 degree turn.
The economic analysis indicated that while Home Depot would benefit financially from a second location in Pleasanton, given the future opening of a Lowe’s in Dublin, the city and the community would not.
Projected revenues to the city were also reviewed and discovered to be lower than originally projected, at $185,000 to $260,000 annually. And, coupled with the added expenses to the city, home depot the gain would be smaller.
The council is scheduled to take up discussion on possible retail alternatives for the proposed center at the intersection of Bernal and Valley avenues with Stanley Boulevard at its Jan. 15 meeting.
Tags: alternative, anc, boulevard, business, businesses, Community, Development, embers, Home Depot, Home Improvement, lt, pace, Project, Shopping Center, Stores, trafficRelated posts
Did you enjoy Pleasanton council rejects Home Depot? Subscribe to RSS Feed.
Social Bookmarking
