The Sanford City Council approved zoning covering the Riverbirch Corner Shopping Center at 1033 Spring Lane that would allow developer Casto, to build a Target store. The Target announcement is part of a larger plan Costo has for the retail center. It plans to spend $64 million to reposition Riverbirch Center, by adding a Target and bringing in a new supermarket.
The Triangle Business Journal reports the Sanford City Council approved $4.4 million worth of incentives to Casto to redevelop the shopping center. As part of the agreement, Casto must open the Target and a new-to-market regional grocery store within five years in order to receive the incentives.
Casto purchased the shopping center for $10 million in 2022…