PORT ST. LUCIE, Fla. — Port St. Lucie is getting a new Costco retail store.
City leaders on Monday approved the sale of a 22-acre parcel of land to Costco for $6 million, marking a major step toward bringing the warehouse retailer to a city whose residents have long called for one.
The land is located in Southern Grove, in the city's southwest corner — an area that has seen rapid growth and development in recent years.
WATCH: Costco is latest marker of growth in Port St. Lucie
Mayor Shannon Martin said the deal reflects growing recognition of Port St. Lucie's expanding economic profile.
"What it means is that these stores are starting to recognize our demographics. They're recognizing that our median incomes have gone up. They're starting to recognize that people want Costco here," Martin said.
For many residents, the news was welcome.
"Everybody in our community has to go to Stuart or Palm Beach for Costco," Jeff Beck said.
The retail store will be located east of SW Village Parkway and south of the newly constructed SW Marshall Parkway. It will be built adjacent to a Costco distribution center in Port St. Lucie that's slated to open this month, though construction on the facility is ongoing. The distribution center is expected to employ more than 500 people.
Costco is the latest in a series of major projects planned for Southern Grove. Developer Gustavo Lumer has been planning an entertainment district for the region for several years and said the Costco announcement adds momentum to those plans.
"And now that Costco is coming next door, it's even better," Lumer said.
While Lumer said he cannot yet disclose specific tenants, he offered a preview of what's in store.
"Incredible tenants are coming. We are talking to many restaurants, a hotel site," Lumer said.
A separate developer is also eyeing a 60-acre parcel at Becker and Village for 660 multi-family residences, a hotel, and 250,000 square feet of commercial and retail space.
Lumer said the growth is transforming the city's long-term outlook.
"It's going to be one of the nicest cities in Florida in the next three to five years," Lumer said.
St. Lucie County Economic Development Council President Wes McCurry said Southern Grove's jobs corridor has built out in far less time than originally planned, and he pointed to the area's mix of housing and amenities as a key driver.
"Because you had housing nearby. You had places to go eat and shop nearby. That's appealing to employers who move into that area," McCurry said.
No construction start or end date for the new Costco has been announced.
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