A new strip mall is on its way to the area around 114th Street and Territorial Drive.
The actual address of the development will be 312 Territorial Drive, and is the land located immediately north of the Elkadri Plaza where Domino’s Pizza, Taco Time, Subway and Fuji Sushi are located.
The development, which has been in the works for some time, is being pursued by Davandy Properties Inc. They began working with the City in August 2014 on the development.
A signed purchase agreement is in place where Davandy would purchase the land from the city for $1.3 million, and develop a nine-unit strip mall shopping centre. In a memo to council from administration, construction costs were estimated at approximately $2 million, but Mayor Ian Hamilton told reporters that number was just for the shell of the building and that the actual value for the project would far exceed that amount once all the other improvements are put in.
The recommendation before council Monday called for approval of the discretionary use application to develop the strip mall, and the resolution carried unanimously.
In comments attached to a memorandum to council City Manager Jim Puffalt called it a “major development” for Territorial Drive and added “as an added feature the City will recoup its investment in the property.”
The city manager also noted there is still prime land available at the location.
Hamilton told reporters later he expects construction to proceed soon. “We’ll see shovels in the ground imminently,” he said.
