City of Cornwall Finalizes Land Sale to Shoppers Drug Mart
The City of Cornwall announced today that it has finalized the sale of 65 acres in the Cornwall Business Park to Shoppers Drug Mart at a sale price of approximately $1.1 million.
In December 2008, the City announced that Shoppers Drug Mart was building a new 500,000 square foot state-of-the-art distribution facility. The new facility will be operated by Matrix Logistics Services Ltd., and will service Shoppers Drug Mart and Pharmaprix stores in Eastern Canada.
"Today's announcement that the land deal has closed signifies a major milestone in the development of the project," said Mark Boileau, Manager of Economic Development with the City of Cornwall. "Land sales in the Cornwall Business Park are relatively straightforward as the City has worked hard to ensure that the lands are fully serviced and investment ready."
The process has also included final approval of the site plan for the massive building.
"The City's Planning Department has been working closely with Shoppers Drug Mart and their architects to finalize exactly how the building will be situated on the property," noted Mr. Boileau. "The site plan process includes a signed agreement between the developer and the City and also deals with issues such as lot grading, traffic and access to municipal services."
Construction will begin this spring on the facility which is scheduled to be completed in early 2010. It is expected that over 130 full-time positions will be created as a result of this project.
The City is also moving forward with the construction of a new north-south road in the Cornwall Business Park, connecting SCM Way and Industrial Park Road. The road is essential in accommodating new business development, as it will open up new lots for future development. Planned improvements to traffic signalization in the area are a benefit to all companies with operations in the Business Park. Work on the roadway is expected to begin in the spring and be completed by the end of July.
The Cornwall Business Park is located in the Eastern portion of the City along Canada's busiest expressway, Highway 401. Canada's main rail line and fibre optic network bisect the park, which is home to over 50 companies. Over 800 acres have been set aside for future development by the City.
Cornwall is a city of 47,000 people, situated along the St. Lawrence River and Highway 401. One of Canada's oldest settlements (established 1784), Cornwall today is a progressive, family oriented centre, sustained by a growing, multi-faceted economy that features affordable housing and a diversity of commercial businesses and industries.