Wednesday, November 1, 2000
Steamboat Springs Retail giant Target Corp.'s interest in the Steamboat Springs market appears to have taken a new direction.
Steamboat businessman Bill Petrillo said Wednesday Target has withdrawn its contract to purchase 3.08 acres he owns near the Curve Development on Steamboat's west side.
Petrillo said his conversations with company officials indicated they are looking for a piece of undeveloped ground closer to the Steamboat Ski Area on which to build a "superstore."
Target spokeswoman Kristin Jahnke confirmed Target Corp. has investigated the possibility of building a store here but wouldn't comment further.
"We have looked at Steamboat Springs but at this time have no plans to confirm," Jahnke said.
The Summit Daily News of Summit County has reported Target has begun working its way through the planning process in Silverthorne, where it would like to build a 120,000-square-foot store on land that includes all of the former River Bar West trailer park along Colorado Highway 9.
Jahnke characterized Target's activities in Silverthorne as still being preliminary.
Petrillo said during his conversations with Target officials, they discussed the Silverthorne project and a potential Steamboat store as if they could both happen, rather than as an either/or option.
Jahnke said she couldn't comment on whether the construction of a Target store in Silverthorne would preclude building a new store in Steamboat without talking to executives in the company's real estate division.
However, she said in general terms, the answer to that question would depend upon the market potential of the communities involved.
Petrillo's property, which is immediately west and behind Windemere Landscaping and Garden Center, would not have been large enough to accommodate a Target store. Target had also contracted with Byron Chrisman, of the Curve Development, for an additional 8 acres contiguous with Petrillo's property.
Chrisman was not available for comment Wednesday about the status of his contract. He originally told Steamboat Today the term of the contract was five months.
Petrillo said his contract with Target gave the company a "free look" for 150 days and under those terms, Target withdrew the earnest money he stood to receive had the contract gone beyond those 150 days.
The parcel of land Chrisman contracted to sell to Target is the same one that already has city planning approvals in place for a motel, restaurant, apartment house, office building and a combined office/retail building.
According to the Summit Daily News, Target had considered a 12.5-acre site in Silverthorne that it would have preferred but settled on the 7-acre River Bar West Site.
Target Corp. describes itself as "America's upscale mass merchandiser" on its Web site.
In addition to Target stores, Target Corp. owns the Mervyn's California chain and such well-known department store names as Marshall Field's, Dayton's and Hudson's.
To reach Tom Ross call 871-4210 or e-mail email@example.com