By Colin Hogan
Fulton officials approved some new plans for the former Nestlé site this week, which could include retail shops, a supermarket and a senior housing facility.
The city has divided the 24-acre primary site, which is comprised of several facilities along the corner of S. Fourth and Fay streets, into multiple parcels to be sold off for development.
Woodward said Wednesday that he has been working with a developer representing multiple potential buyers, some that can be disclosed at this time and others that can’t.
“Anyone who’s been wanting to talk to me about it and is interested in developing it I’ve been making a point to talk with, because this (getting the site restored) is very important to the city,” Woodward said.
International supermarket chain Aldi Inc. is still interested in establishing a store on a 2.17 acre parcel in the northwest corner of the site (right along the corner of S. Fourth and Fay streets), Woodward said. Aldi first expressed interest in the site about a year ago, but struggles with the property’s former owner reportedly led the company to begin considering alternative sites in Fulton. With the Nestlé property now owned by the city, Woodward said Wednesday it appears Aldi still plans to establish the store on that site.
South of that lot, along S. Fourth Street, are a 1.05-acre parcel and a 0.87-acre parcel that Woodward said are also being considered by the developer. He said the parties interested in those plots could not yet be disclosed, but noted that the parcels would be developed for retail purposes.
East of the corner, along Fay Street, is another 2.5-acre parcel that includes the building that formerly housed the Nestlé Credit Union office. Woodward said plans are in the works to develop a senior housing facility in the upper floors of that building. The bottom floor would then be leased out by the new owner, Woodward said.
In all, those parcels account for about one-third of the site. Woodward said some of the interested parties are requesting to have an option contract on the remaining portion of the site, which he said he would have to take to the Common Council for approval. Woodward also noted that there are some lots surrounding the site that were owned by Nestlé, but haven’t been foreclosed on by the city.
Across the elevated pedestrian walkway that crosses Fay Street is another former Nestlé building that Woodward said two parties have expressed interest in through a separate developer. Details on those plans are still sparse, he said.
While details on the asking prices were unavailable Wednesday, Woodward said the city is looking to recoup what it has lost in the site’s back taxes. The buyers would also be responsible for any remaining site cleanup and asbestos removal, he noted.
“We took the total tax bill that was owed on the site and said we need to get that portion of the total tax bill, and (the buyer has) to tear down the buildings and remove the asbestos,” Woodward said.
Recouping those lost taxes, having the parcels back on the tax rolls and having the new buyers take care of the demolition and asbestos removal would be “a sweet deal” for Fulton, Woodward said.
The current site plans have already been approved by Fulton’s planning commission, Woodward said, and will now be sent to the county planning commission for review.
Woodward said he’s hoping work can begin on the properties this summer.
By Colin Hogan