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Date: 2/27/2015
CHICOPEE – A PetSmart store will be joining the other retail offerings at Chicopee crossing on Memorial Drive later this year.
Already home to Chipotle Mexican Grill, Buffalo Wild Wings, Residence Inn by Marriott and other businesses, Developer Frank Colaccino of the Colvest Group said the 12,300 square foot store represents a $3 to $3.5 million investment and should provide 50 jobs.
The weather has pushed back the date the construction was supposed to begin, and Coleccino said he hopes to have the store opened by August.
Coleccino made the announcement along with Mayor Richard Kos on Feb. 23. Kos said there has been “slow but steady growth in the corridor.”
Coleccino has been working on the development project for four years and said what made it a reality was the installation of a traffic signal. State Rep. Joseph Wagner was credited as spearheading the effort to have the state spend about $1 million to design and install the light. The result has been about 300 jobs.
“We don’t create jobs in the Legislature. We prime the pump,” Wagner said.
Coleccino explained that without the traffic signal, tenants were reluctant to commit to the development.
He said the restaurants were “doing phenomenal” and the Chicopee Buffalo Wild Wings is one of the most successful locations for the national chain.
Coleccino said he still has 60,000 sqaure feet of space to develop and lauded city officials for their help. What makes Chicopee different is all city departments involved in a development meet with the developer at one time, Coleccino and Kos explained.
“These all board meetings work,” Kos said.
Coleccino said that cooperation from municipal government “is not an issue in Chicopee.”
Coleccino explained that some potential tenants approach his company while other tenants have been identified through specialty brokers. He attributed the positive change in the retail sector to low interest rates and the economy growing.
“We’re seeing a lot of tenant activity,” Coleccino said. He added there is “pent up demand for new stores.”