A Point Edward-based developer is planning a multi-million dollar plaza in Petrolia.
Last week, for sales signs went up on the corner of Petrolia Line and Oil Heritage Line but before long a large sign from Curran Capital was erected. Taylor Curran says he’s been working with a national retail company who expressed an interest in Petrolia. “They asked us to enter the market and look for suitable sites,” says Curran. “This site came up and met a lot of their criteria.”
So Curran optioned the site.
The national company is now doing an internal investigation before it moves ahead. Curran says that could take until the beginning of the new year where a plan would go to town hall.
Curran says the national retailer would be part of a larger plaza. The site is 3.6 acres and could support a 40,000 square foot plaza. Curran doesn’t expect it will be that large but is looking for interested companies to join the national retailer.
Depending on the size of the plaza created, Curran says the building – which would be owned by Curran Capital and leased to the tenants – could cost between $3 and $4 million.
Curran says “the deal will go” as long as the nation company signs on. And he’s anxious to “get this moving as quickly as possible.
“I would suspect first quarter of 2015 we will have a very good understanding of where things are going.”
He adds he’d like to build in 2015.