MOSCOW — Close to $2 million is being invested at the Palouse Mall in Moscow for a 60,000-square-foot Target store that will debut at a date not yet disclosed.
Target announced in September it would open in Moscow after years of intense speculation about whether the chain store would ever locate in north central Idaho or southeastern Washington.
“We’re excited to bring an easy, safe and convenient shopping experience to new guests in the community with this new Target store,” according to a recent statement from Target about the store at 2132 W. Pullman Road.
“As we get closer to opening the store, we’ll have more specific details to share — including how the shopping experience will be tailored to serve local guests and the grand opening date,” the statement said.
So far, two building permits have been obtained for the project, said Moscow Deputy City Supervisor Bill Belknap in an email.
One was issued in early December for a facade and 20,000-square-foot addition on the west end of the former Macy’s space. It listed the value of that work at $1.1 million and the mall as the contractor.
“I do not have a percentage completion, but I believe most interior and exterior demolition (have) been completed and they are now working on footings and foundations on the expansion,” he said.
The city issued another permit on Jan. 19 for tenant improvements valued at $746,100, Belknap said. The contractor for that phase of the work is MG2.
The Moscow Target will be one of about 1,900 stores operated by the company based in Minneapolis. The national retailer performed well over the holidays, according to a mid-January news release from Target.
“Comparable sales in the combined November/December period grew 17.2 percent, driven by a 4.3 percent increase in traffic and a 12.3 percent increase in average ticket,” according to the news release.
“Store-originated comparable sales grew 4.2 percent, while comparable digital sales grew 102 percent.”
Class helps seniors preserve their life savings
Preventing personal savings from being drained by the high cost of long-term care is the topic of an upcoming free class offered by the University of Idaho Extension Office.
The two-hour class titled, “How to Keep Your Assets Out of the Nursing Home!” will be offered through Zoom at 6 p.m. Feb. 16.
Registration is available at: uidaho.zoom.us/meeting/register/tZYvfuqsrzktG9WxDPWevyQqqOe7wmIROMHi.
One of the biggest threats to retirees’ financial security is the cost of long-term care, partly because the price has doubled in the last 10 years and is expected to increase more, according to a news release about the course.
“With an aging baby boomer population, the demand for care is growing rapidly,” according to the news release. “That demand is pushing the already high costs of home health, assisted living and nursing home care to levels few households can afford.”
These items were culled from Elaine Williams' Biz Bits column in the Sunday Lewiston Tribune. Business news for the column can be submitted to firstname.lastname@example.org. Be sure to put “Biz Bits” in the subject line.