Dollar store backs out of Palisade
National discount retailer Dollar General has reversed course and will not build a store in Palisade, The Daily Sentinel has learned.
Town officials said in a news release to be issued later today they believe Dollar General reassessed their revenue and cost projections and determined the net returns for the business wouldn’t reach the company’s preliminary estimates.
The Sentinel left messages this morning with Town Administrator Tim Sarmo and a Dollar General media relations representative.
The town in February agreed to sell roughly an acre of land north of the Union Pacific Railroad tracks and west of Main Street to Tennessee development company Franklin Land Associates LLC for $133,500. Dollar General intended to build a 9,200-square-foot store on the parcel.
The land sale upset several town residents, including members of a citizens’ group known as Citizens for Smart Growth, who argued a discount retailer didn’t fit into the town’s character and could put nearby Family Food Town out of business. Members of Citizens for Smart Growth wrote numerous letters and emails to Dollar General expressing opposition to the company’s plans to open a store in town.
Read the full story in Saturday’s Daily Sentinel.