The proposed location off Golf Links Road in Innova Park is now “development-ready,” according to Thunder Bay’s director of development services.
THUNDER BAY – Whether it becomes a Costco warehouse or not, the next phase for building a large retail center at Golf Links Road and Central Avenue depends on the company that wants to establish itself on the site.
Joel De Peuter, director of development services for the City of Thunder Bay, stated, “all the planning approvals are complete, and the building permit could be submitted any time.”
“The lands are development-ready.”
A representative from Forum Properties – which owns the site in Innova Business Park – confirmed on Tuesday that they finished addressing the city’s planning requirements by late 2025 “on behalf of and in concert with the end user.”
The specific tenant has not been revealed yet. However, the developer’s site plan for a 160,000-square-foot building bears a strong resemblance to a typical Costco warehouse and gas bar layout.
Brian Flynn, leasing and development manager for Forum, told Newswatch that “planning approvals are in place, and everything as far as what we’ve had to oversee is sort of complete and moving forward.”
However, he noted that when an application for a building permit will be submitted is up to their client’s decision.
“That’s sort of where our work as a developer ends, and the ultimate end user would be the one that applies for that building permit, so I can’t give you any sort of timeline on that.”
In 2025, city council unanimously approved a zoning amendment allowing this development. Forum Properties’ president Toby Singlehurst mentioned that once planning approvals were secured for the site, work would proceed “very quickly.”
He described their client as “absolutely one of the top,” but he could neither confirm nor deny if they’re collaborating with Costco.
The U. S.-based retail giant already operates around 113 locations throughout Canada and continues expanding.
“The pace has definitely increased. There are obviously some markets that are underserved, like yours,” said Sylvain Charlebois, researcher and director of the Agri-Food Analytics Lab at Dalhousie University in Halifax.
Residents near Thunder Bay have received mailings from Costco promoting special offers while encouraging them to sign up for memberships.
“It wouldn’t surprise me if they’re out there soliciting members well in advance of the building opening,” said Toronto-based retail analyst Bruce Winder.
“Their whole business model consists of getting members.. they make very little on the products (that they sell). It’s all about membership fees.”
Charlebois agrees with Winder.
“That’s really the key here. When you go into a Costco, the company would make about 15 percent off the price you pay,” he explained. “If you pay $10 for a jar of peanut butter, 50 percent of that goes to cover store operations costs-salaries and everything else.”
“They don’t make money out of that. They make money out of selling memberships.”
If Costco does come to Thunder Bay as expected, Charlebois noted several advantages for local residents.
“There is a ‘Costco effect’ when it comes to openings. It impacts entire communities. When I’m talking about food-if Costco decides to open up in Thunder Bay-my guess is other grocers nearby will likely adjust prices to maintain their market share.”
He speculated some locals might overlook it since it’s an American retailer but pointed out “Costco is known to pay their employees quite well; these aren’t just retail jobs-they’re actually good jobs. People often build careers working at Costco.”
Forum Properties also develops another retail plaza at another location within Innova Park; city council approved its rezoning last November.
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