Armco Capital is clearing up rumors after a site plan leaked on social media, suggesting Costco is coming to Middle Sackville. The company says no retailer has committed, and the document was just an internal study, not an official proposal.

Armco Capital Release:

Statement from Armco Capital Inc. regarding misinformation on social media

Yesterday, Armco Capital Inc. (Armco) became aware of a confidential site plan circulating on social media, which is being represented as confirmation that a large retailer has selected our property in Middle Sackville for the future site of their store. This claim is false.

Armco has been working for thirteen years to acquire development rights on several parcels around the Margeson Dr./Highway 101 (Exit 2A) interchange. This process remains ongoing, with no certainty of approval, as it requires decisions from Regional Council. Essentially, any significant development would necessitate securing proper zoning and the extension of municipal services—at our cost—through an amendment to the Urban Service Boundary.

In December 2018, HRM Regional Council initiated a Master Planning process for these lands, but the process stalled in February 2022 due to concerns with school capacity, and later because Armco requested to service the development with sewer, in addition to municipal water. Over the years, various retailers have expressed an interest in the area, but the lack of proper zoning and municipal services have always been a major impediment.

As part of our due diligence, and as part of discussions with retailers, we periodically prepare conceptual site plans and grading plans to assess the feasibility of potential projects. This type of due diligence is a necessary step developers must undertake before making an official application with the municipality. The site plan currently circulating on social media was one such internal exercise. It is not part of any current application with HRM, nor has it been formally discussed with municipal staff.

Unfortunately, this document was recently shared with an outside organization in advance of a discussion regarding potential infrastructure upgrades. While this is a routine part of evaluating development feasibility, the release of the document—without consent and without proper context—has led to speculation that is misleading and potentially damaging to our relationships with HRM, prospective tenants, and area residents.

We wish to be categorically clear: No retailer has committed to this property, nor any property owned by Armco at this interchange. The current lack of proper zoning and municipal infrastructure precludes this scenario. While we remain committed to pursuing development rights through the Master Planning process, we strongly believe that public consultation should take place through official channels—not through the uncontrolled spread of preliminary site plans on social media.

Armco remains dedicated to working collaboratively with HRM, area residents, and prospective tenants through the proper planning and approval processes.