Although the pace of economic development has slowed as a result of the recession, Oregon this year is seeing new construction of a grocery store, apartment buildings, and an expansion of a nursing home.
A new Aldi’s grocery store, currently under construction at 3728 Navarre Avenue across from Wal-Mart, is nearly completed.
“I don’t know when it’s going to open, but I expect any day now,” said Gary Thompson, director of the Oregon Economic Development Foundation.
The 17,887-square-foot store is made of brick. The value of the building is $1,708,000, according to Oregon’s Building and Zoning office.
Aldi designed an access road that will serve all of the 20 acres surrounding it, according to Thompson.
“From a development standpoint, we’re excited about the access road,” said Thompson. “There will still be room at Aldi’s to put a big box store, theater, or something like that on the property. If you think about it in terms of the Wal-Mart development, Aldi’s is really sitting in an outlot, waiting for something bigger to happen around it. There was always an argument on those parcels of property over who has the stop light and what is the value of the stop light relative to the other parcels? That’s part of the reason that it took so long to develop. Aldi’s solved the problem. They came in, bought the lot where the stop light is, put a road in so all the land can have access to it. So it’s good for development, and good for traffic. You’re not going to have four curb cuts along 300 feet of Navarre Avenue right across the street from Wal-Mart, where we already have a lot of traffic. So it really worked out well. And some time in the future, we’re going to reap the benefits of that.”
Aldi entered the U.S. market in 1976 in southeastern Iowa. Today, over 1,000 stores are located across the country. Aldi’s is known for its deep discounts. In 2008, Supermarket News ranked Aldi 25th in U.S. grocery chains in terms of gross sales.
It will be the first Aldi store in Oregon. There are several in the area, including one Woodville Road in Northwood, two in Toledo, and one in Rossford and Sylvania.
In other economic news, the $7.4 million Bay Pointe luxury apartments are under construction at 4744 Navarre Avenue.
“The developer was going to build just two units to kind of see how it went,” said Thompson. “Now, it’s a six unit development. Currently, Unit 5 is under construction. The buildings are all connected, and they’re targeted toward active seniors. Every time they build one, they fill it up quickly. They found a market in Oregon. When the buildings are completed, there will be approximately 120-150 apartment units.”
Rent will range from $800-$1,200 per month. The developer, Redwood Management, is from Cleveland, said Thompson.
And Heartland Nursing Home, 3953 Navarre Avenue, is undergoing a 35-percent expansion, valued at $1 million. The expansion will be 40,045-square-feet when completed and possibly hold up to 15 beds.