Costco in U-City opened October 25, 2022, which has positive effects for the community: jobs, convenience, low prices. However, there are negative effects as well.
Costco is part of the Market at Olive which is a 50-acre mixed-use development under construction located on the western edge of University City at the intersection of Olive Boulevard and I-170.
STORES OPEN AT MARKET AT OLIVE Shopping Center
Costco – opened October 25, 2022
RESTAURANTS COMING TO MARKET AT OLIVE Shopping Center
St. Louis Bread Co.
Raising Cane’s – coming to McKnight Rd and Olive.
Chick-fil-A will – location will be next to Costco
GROCERY STORES COMING TO MARKET AT OLIVE
Dierbergs Grocery Store
BANKS & FINANCIAL INSTISTUTIONS COMING TO MARKET AT OLIVE
COSTCO AND THE NEGATIVE EFFECTS
There are several potential negative effects that the presence of a Costco store at Markets at Olive in University City could have. Here are a few examples:
- Traffic congestion: Large retail stores like Costco can attract a significant number of customers, which can lead to increased traffic in the surrounding area. This can be particularly problematic if the store is located in an area with limited road infrastructure or insufficient parking.
- Competition for local businesses: The arrival of a Costco store in an area may also lead to increased competition for local businesses, particularly small retailers that offer similar products. This can potentially lead to the closure of some local businesses, which could have negative economic consequences for the community.
- Impact on the local economy: While the presence of a large retailer like Costco can bring some economic benefits to an area, such as job creation and increased tax revenue, it can also have negative impacts on the local economy. For example, a Costco store may source its products from outside the area, rather than supporting local businesses, and the low prices offered by the store may make it difficult for local businesses to compete.
The Markets at Olive development will have retail, restaurants, apartments, offices and hotels as well. Companies involved include: Holland Construction, BEX Construction, Clayco, Seneca, CRG, Hutkin Properties Group, LLC. Source: Olive and 170 TIF