Keith Fitz-Gerald, director of The Fitz-Gerald Group, highlights shares of Costco, Palantir and Lockheed Martin ahead of the market open.
A sixth record Costco location is one step closer to arriving in a Bay Area city soon, and not everyone is happy about it.
The San Jose Planning Commission voted unanimously Wednesday to approve an environmental impact report for the proposed warehouse site, San Jose lights She reported the formation of a city council to consider approving it on October 22.
The proposed site is adjacent to Prospect High School, which has a population of more than 1,600 students and staff, according to the school’s website. People living nearby oppose the construction of the depot due to traffic and increased noise pollution, Spotlight reported.
“We’ve seen Costcos make a lot of improvements to the public infrastructure around them because of the problems they themselves would cause, and we haven’t seen San Jose talking about doing anything similar,” Mark Pauliger, co-founder of the grassroots group Save West Valley, told the San Jose Spotlight. “There doesn’t seem to be a lot of effort between Costco and the city to get any type of mitigations or improvements.”
Costco is rolling out a game-changing new feature on its mobile app
If approved, San Jose’s newest Costco would be adjacent to Prospect High School, as shown on this area map. (Google Maps / Google Maps)
“The location is inappropriate,” said Julie Reynolds, president of the high school’s Student Parent Teacher Association, according to Spotlight. “It’s less than 50 feet from long-standing homes, close to several parks, across from assisted living centers, and 1,000 feet from a high school.”
Although city officials did not immediately respond to FOX Business’ request for comment, Planning Commissioner Pierluigi Oliverio previously expressed support for the project, which is expected to bring 250 to 300 jobs to San Jose and generate $2 million in annual tax revenue, according to San Jose . Jose Spotlight.
“When we have an opportunity where there is a commercial development that generates income for the city, we should approve it,” he said. “Ultimately, there is a tsunami in the general plan and the city’s economic development needs, and this has to happen.”
The newly announced Costco store will face a unique challenge due to “sacred” laws dating back centuries
The 165,000-square-foot Costco will replace some vacant stores in the shopping plaza, the San Jose Spotlight reports. (Google Maps / Google Maps)
| tape | protection | last | It changes | % changes |
|---|---|---|---|---|
| It costs | Costco Wholesale Company | 885.62 | -15.82 |
-1.75% |
Costco did not immediately respond to FOX Business’ request for comment on the site, which Spotlight says will cost about $60 million to develop.
If implemented, the proposed location would make San Jose the city with the largest number of Costcos in the United States, According to svgate.
Customers walk into a Costco Wholesale Corp. warehouse store. In Hawthorne, California, on June 12, 2024. (Patrick T. Fallon/AFP via Getty Images/Getty Images)
Click here to read more about Fox Business
Costco told Spotlight that the location will be the first in the United States to offer rooftop parking.
The 165,000-square-foot warehouse will occupy the space that currently houses a Goodwill store, Ethan Allen Furniture, Bikram Yoga San Jose and the former Smart & Final and Orchard Supply Hardware building, the local outlet reported. It will all be demolished to make room for Costco.
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”
More Stories
Bank of Japan decision, China PMI, Samsung earnings
Dow Jones Futures: Microsoft, MetaEngs Outperform; Robinhood Dives, Cryptocurrency Plays Slip
Strategist explains why investors should buy Mag 7 ‘now’