2017 – Wal-Mart Supercenter Grand Opening – Alsatian Oaks
Over the course of two years, Terracor faced many challenges in completing the first phase of Alsatian Oaks in Castorville, Texas, in which Wal-Mart became not only Castorville’s first full-service grocery store, but first anchor tenant greater than 20,000 square feet.
Terracor had a long-term vision for Alsatian Oaks, which involved retaining ownership of the adjacent land, so negotiations with Wal-Mart, a global retailer, had to be carefully thought out. Additionally, tremendous effort was spent addressing the City of Castorville and residents’ initial concerns that Wal-Mart would push out small businesses. In doing so, Terracor had to contend with the entire city staff turning over twice during the two years; Terracor communicated with three city managers and two different mayors.
Terracor educated the newly-elected leaders about the benefits of bringing a Wal-Mart to the city: the services are needed by the residents, and the city would gain sales tax revenue currently being lost to neighboring cities who do have a Wal-Mart or other shopping options. Sales tax revenue generation is vital for small cities; retail generates funds to help cities provide services, amenities, and beautification. “Sales tax is the reason McAllen looks the way it does,” says Will Collins.
As the political climate changed towards a pro-business position, the project came to fruition, with Wal-Mart’s grand opening on March 15, 2017. The 126,000 square foot supercenter’s opening week surpassed internal projections and has continued to do so since. Sales tax generated demonstrates that the community has embraced Wal-Mart, creating a win-win-win for the City of Castorville, Wal-Mart, and Terracor. Our partners saw a return on their investment; gaining 3.6 times their investment back.