Servicing of land for the new Canadian Tire development at 250 Thatcher Drive East has begun.
Contractor KMS Construction plans to install sewer, storm and water main pipes to the site, with construction expected to be finished by June 15, weather permitting, according to a news release. City hall is encouraging motorists to obey all traffic signs and exercise caution for everyone’s safety.
Canadian Tire Real Estate Limited (CTREL) paid the municipality a non-refundable deposit of $250,000 in January as part of an agreement to purchase property near the Moose Jaw Exhibition Company site. The deal includes 11.95 acres (4.78 hectares) for $3,171,725, or $265,500 per acre. The property is in the southeast corner near Thatcher Drive East.
As per the agreement with CTREL, city hall will service the land sold to Canadian Tire and complete a partial infrastructure connection to 8.56 hectares (21.4 acres) north of the property for potential future development.
The municipality has not yet announced any developments for that piece of land. However, clauses in the deal give CTREL firm control for decades over what can be built there.
The original contract between the city and CTREL was to close on April 16, 2020, while Canadian Tire had to commence construction before Oct. 31, 2021. However, based on a renegotiated contract, the company must start building before Oct. 31, 2022. This means the new building — which would bring Canadian Tire, Mark’s and SportChek under one roof — could be open by 2023.
