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July 01, 2013CUMMING, Ga. — The Costco construction project in Cumming has halted, but those close to negotiations say it's not yet over.
The warehouse store giant has told the landowner of the proposed property on Bald Ridge Marina Road that it was, "terminating the purchase agreement."
This is according to reports in the Forsyth County News, quoting a statement by Emory Lipscomb, the attorney representing the owners of the property located in north Forsyth County at the intersection of Market Place Boulevard and Bald Ridge Marina Road off Ga. 400 and Exit 15.
Repeated phone calls and emails to Lipscomb's office and Costco representatives seeking comment were not returned by our deadline.
Lipscomb had been quoted in news reports saying he and Jim Butler, another attorney representing the seller, "chose to turn down Costco's proposal."
But sources close to the negotiations say they are confident Costco and the seller will reach an amicable agreement and the project will move forward.
The land has already been cleared and heavy machinery began to map out plans for a 148,000-square-foot warehouse with about 650 parking slots.
All was quiet last week.
City of Cumming officials have not been told Costco had backed out of the purchase deal, but said improvements to that area will continue. The city is investing about $2.5 million in improvements to road, sewer and water in the area.
In May, city leaders approved a conditional use permit for Costco's sale of alcohol by the package. Mayor H. Ford Gravitt said he was unsure about the project's future.
"It's something that is going on between the seller and the buyer. I've not been privy to any information. I would hope something comes out of this real soon," Gravitt said. "It's good weather to be working."
This was published in the July 3 issue of the Forsyth Herald.
Managing Editor, Appen Media.