Costco’s plan to open new central Pa. store moves forward (2024)

Plans for a Costco Wholesale store on the Carlisle Pike in Silver Spring Township have moved forward.

The store would sit on an 18-acre property that is owned by Silver Spring Township-based Ferris Land Development. The property is across the Carlisle Pike from Faulkner Cadillac and the Cumberland Valley School District complex.

Costco plans to build a fueling station. But, because the potential fueling station and the school district property would be within 300 feet of each other, the township’s ordinance had to be changed for the project to move along.

The township ordinance required that a gasoline dispensing facility shall be set back at least 300 hundred feet from any lot containing a school, day-care facility, park, playground, library, hospital or nursing, rest or retirement home; and from any lot containing a park or playground that is not accessory to the aforementioned habitable buildings.

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The redrafted proposed text amendment ordinance presented at Wednesday night’s Silver Spring Township supervisors meeting proposes that the gas station be at least 300 feet from any habitable building on a lot containing a school, day-care facility, park, playground, library, hospital or nursing, rest or retirement home.

Silver Spring Township supervisors approved the new ordinance 3-1. Supervisors Carl Machamer, Nancy Konhaus Griffie and Laura Brown voted in favor of the proposed ordinance. Supervisor Harry Kotzmoyer Jr. voted against the proposed ordinance. Supervisor David Lenker II was absent.

The vote allows Costco to build a fueling station in its desired location ultimately moving the project forward. Costco still has to submit a land development plan, which would also ultimately have to be approved by township supervisors.

Township resident Glenda Farner was one of the residents that spoke out against the new ordinance before the vote.

“To downgrade the distance is doing a disservice to the children in this community,” Farner, said via Zoom.

But, on the flip side, Dave Getz, an attorney for the applicant noted that the school district has said it has a gas tank on its own property, and he told the supervisors that the updated ordinance has been reviewed carefully.

“I believe the proposed text amendment has been carefully crafted and reviewed by your staff to be convinced that the safety of the public will not be harmed by this amendment,” he told the supervisors.

Supervisor Kotzmoyer said that he has heard from residents about potential traffic issues.

“I’ve gotten comments from the community that if Costco would go in there … traffic would be horrendous and I tend to agree,” he said.

Supervisor Konhaus Griffie said that she put a lot of thought into updating the ordinance and has spoken to safety experts. She said the Carlisle Pike is where this new facility should be.

“As many people who have spoken against this, there are many, many more people that don’t come [to the meetings], that are for this, and have been for this for a long time,” she said. The point is, this is the Carlisle Pike. We had always agreed in all of our comprehensive plans that our commercial development would be on the Carlisle Pike, not on some side road. This is where the commercial district should be.”

Costco’s plan to open new central Pa. store moves forward (1)

Plans for the new store show the facility would be at least 151,000 square feet situated on a property between the Carlisle Pike and Roaring Fork Road and between Hempt Road and Lexus Lane. It would include 804 parking spaces including 17 handicap-accessible spaces.

Costco stores range from 80,000 square feet of space to 230,000 square feet of space. The average size is 146,000 square feet, according to the company’s website.

The timeline for a new store is unclear.

“We cannot comment on locations that will be opening more than three months from today,” Costco says on its website.

Costco’s membership warehouses carry an assortment of groceries, candy, appliances, automotive supplies, tires, toys, sporting goods, jewelry, cameras, books, housewares, apparel, furniture, and office equipment among other items. Costco warehouses generally are open seven days a week.

Costco has more than 845 stores in 13 countries including a store on Jonestown Road in Lower Paxton Township.

Costco’s plan to open new central Pa. store moves forward (2)

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Costco’s plan to open new central Pa. store moves forward (2024)

FAQs

Costco’s plan to open new central Pa. store moves forward? ›

Plans for a Costco Wholesale store on the Carlisle Pike in Silver Spring Township have moved forward. The store would sit on an 18-acre property that is owned by Silver Spring Township-based Ferris Land Development.

Where is the future of Costco in PA? ›

SILVER SPRING TOWNSHIP, Pa. —

The building would be more than 161,000 square feet and include 805 parking spaces, along with gas pumps. There will be three entrances – off Hempt Road, Lexus Lane and Roaring Fork Road. The warehouse club is expected to open in 2025.

Where are the proposed new Costco locations in 2024? ›

The new branches will be in Florida, California, Tennessee and Texas. According to the company's website, a branch in Loomis, California will open in May. Four more stores will open in the month of June in different states: North Port, Florida; Mt. Juliet, Tennessee; Riverbank, California; and Richmond, Texas.

Is Costco coming to Carlisle Pike Mechanicsburg, PA? ›

Silver Spring approves Costco development off Carlisle Pike, with estimated summer 2025 opening. This map shows the final subdivision development plan for Costco at the corner of Hempt Road and Carlisle Pike in Silver Spring Township.

What is Costco's plan for the future? ›

Costco announced during a March earnings call that it plans to open 30 new warehouses in the 2024 fiscal year, including relocations of two existing stores. That's slightly lower than the 33 openings Costco said it was planning for 2024 in December 2023, but still a significant step up from the 23 openings in 2023.

Is Costco coming to Centre County, PA? ›

Costco plans to build a 161,000-square-foot store and 24-pump fuel facility on a 23-acre site at the southeast intersection of Carlisle Pike and Hempt Road. Sheetz plans to build an 18,390-square-foot storage depot facility near Texaco Road.

What is the future projection for Costco? ›

Stock Price Forecast

The 28 analysts with 12-month price forecasts for Costco stock have an average target of 796.68, with a low estimate of 585 and a high estimate of 975. The average target predicts a decrease of -5.09% from the current stock price of 839.37.

Where is Costco opening new stores in 2024 in the UK? ›

According to the publication, the proposed locations include Brighton, Cambridge, Chelmsford, Colchester, Exeter, south Glasgow, Maidstone, southeast London, Portsmouth, Bournemouth, Preston, Wolverhampton, southwest Birmingham and Oxford.

What are the changes in Costco 2024? ›

The Company also announced that, effective September 1, 2024, it will increase annual membership fees by $5 for U.S. and Canada Gold Star (individual), Business, and Business add-on members.

Which Costco store is the largest? ›

1 is Cosco Salt Lake City, Utah at 235,000 square feet.

Where did Costco in Springdale move to? ›

Costco closed its Springdale location at the end of 2022 after opening a new store within the $150 million Freedom Pointe development in Liberty Township.

Where is the largest Costco in the Midwest? ›

Check this out: Largest Costco in the Midwest opens in Ankeny. As part of the Spectrum 36 development, the new store is located at 4000 NE Spectrum Drive just off the I-35 exit at NE 36th St. ANKENY, Iowa — The highly-anticipated Ankeny Costco is now open.

Where is the biggest Costco in North America? ›

The average Costco warehouse measures around 148,000 square feet, so this location is roughly 87,000 square feet larger. Therefore, it's clear to see that it's the biggest Costco in the world. "Like all Costco warehouses, the Salt Lake City location houses a surprising mix of just about everything.

Who does Costco compete with? ›

Costco Wholesale Corp's (COST) main competitors in the highly competitive retail market of large discount stores are Walmart Inc. (WMT) and Target Corporation (TGT). These companies are also sometimes classified as consumer defensive stocks.

Is Costco doing well financially? ›

While COST beat revenue and earnings expectations for its fiscal 2024 third quarter, the company kept membership fees unchanged at current rates. In the 12 weeks ended May 12, Costco's revenue increased 9.1% year-over-year to $58.5 billion.

Who is Costco's target audience? ›

But compared to its peers, the wholesale club is more popular with higher-income millennial and Gen X households. In particular, Asian-American shoppers are even bigger fans of the brand, and are nearly twice as likely as the average US consumer to shop at Costco, according to Numerator's data.

What are the biggest threats to Costco? ›

Some of these threats include: Intense competition: The retail industry is highly competitive, with many competitors vying for customers' attention and dollars. Costco faces competition from other big-box retailers like Walmart and Target and online retailers like Amazon.

What is the stock price forecast for Costco in 2025? ›

According to analysts, COST price target is 889.71 USD with a max estimate of 1,050.00 USD and a min estimate of 676.00 USD. Check if this forecast comes true in a year, meanwhile watch Costco Wholesale stock price chart and keep track of the current situation with COST news and stock market news.

Which Costco location is bigger? ›

But they do, indeed, exist, and for all the similarities, these locations have some interesting differences that put them in contrast. The largest Costco store is understandably in a large state in the U.S. The location at 300 West in Salt Lake City, Utah clocks in at 235,000 square feet.

What is the long term growth rate of Costco? ›

Costco revenue for the twelve months ending May 31, 2024 was $253.695B, a 7.75% increase year-over-year. Costco annual revenue for 2023 was $242.29B, a 6.76% increase from 2022. Costco annual revenue for 2022 was $226.954B, a 15.83% increase from 2021.

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