While the timeline remains uncertain, one thing is clear: a new Costco Wholesale Center is in the future for El Dorado Hills. On Tuesday, the Washington-based membership retailer officially closed escrow on two properties in El Dorado County.
“It has been confirmed by Costco’s real estate broker that Costco recently purchased approximately 40 acres on both sides of Silva Valley Parkway with the intention of developing a Costco and fuel facility. Site plans are pending, but there will be a substantial distance between the contemplated improvements and any residential or school property,” El Dorado County Supervisor John Hidahl said Tuesday as he shared the news on social media.
The newly posted filings with the El Dorado County Assessor’s Office on the sale of the land have yet to include specific details regarding the purchase price or which property will host the large retailer. As previously reported by the Sacramento Business Journal, Angelo K. Tsakopoulos Holdings LP and AKT Investments are named grantors on one of the two sites. The second site is listed under the EDH 52 General Partnership.
Costco’s El Dorado Hills store is planned to be 156,000 square feet and have about 170 employees, as reported in a Folsom Times article when the company originally posted filings in El Dorado County. County spokeswoman Carla Hass said in an email Monday that there had been no change to the planned development review for EDH 52, which includes the apartments, Costco, and other retail space in one package.
According to the most recently posted plans for the EDH 52 project, the maximum building area proposed for the South Site is approximately 156,000 square feet and includes “without limitation,” a Costco warehouse retail center, tire sales and installation, optical exams and sales, photo center and processing, hearing aid testing and sales, food service preparation and sales, meat preparation and sales, bakery and sales of baked goods, alcohol sales, and propane refueling and sales adjacent to the tire sales and installation facility.
The El Dorado Hills Chamber of Commerce reacted to Tuesday’s news. Costco will bring one of the largest retail establishments to the community yet, bringing more shoppers, traffic and county sales tax revenue along with them. The chamber hopes that the county will make sure the El Dorado Hills community is taken care of when it comes to tax revenue and impacts the addition will bring.
“El Dorado County will see a significant increase in sales tax revenue which is welcomed,” Debbie Manning, CEO of the El Dorado Hills Chamber, told Folsom Times. “It is our hope, leadership at the County will adopt a policy to ensure the El Dorado Hill’s community receives a portion of the sales to help with the impacts that come with Costco.”
The warehouse retail center will also facilitate Costco’s home delivery program by serving as a hub for Costco home delivery drivers to collect member orders for delivery to the surrounding area. Temporary outdoor sales may occur within the parking field adjacent to the warehouse for seasonal sales, such as Christmas trees from late November through December, according to the plans.
The North Site will include 304 apartment units ranging from studios to three-bedroom units, according to the plans. The apartment buildings will be four stories, with the first floor featuring tuck-under garages. An approximately 9,500-square-foot single-story clubhouse with amenities is also proposed. In addition, there will be 14,000 square feet of retail space within two buildings along the northwestern corner. An outdoor patio and plaza are planned between the two buildings.
This latest purchase marks the third new Costco in the region. Earlier this year, the company’s newest store in Loomis opened, and more recently the company announced it would be opening a second store in Roseville. At this time, Costco has not made any statements to the media in regards to the escrow posting which is common company policy when projects are in review and planning stages.
File Images: Costco Wholesale, El Dorado County Plabning Dept.
