The City of Alcoa has announced a partnership with RealtyLink and Costco to develop a new Costco store at the Springbrook Farm site. The site covers 20 acres in the city’s downtown area. The project aims to provide new retail options for local residents and the surrounding region.
Alcoa will manage site preparations, including brownfield remediation, traffic signal installation, utility upgrades, and construction of a section of Werner Avenue. The city plans to use bond financing based on future sales tax revenue from the project. Property tax rates for residents and business owners are expected to remain the same. The project is part of Alcoa’s ongoing downtown revitalization efforts…