Developer Yalitz outlines Olivette project updates including Aldi and new hotel plans

During the Olivette City Council meeting on March 11, 2025, significant updates were shared regarding the ongoing development projects in the city, particularly the highly anticipated Aldi store and other commercial spaces.

The meeting highlighted the community's excitement surrounding the opening of Aldi, with residents expressing their gratitude and enthusiasm. Although the store is not yet fully completed, final landscaping is expected to begin shortly, with the installation of stop signs in the Aldi parking lot planned to enhance traffic safety.

A notable feature of the development is a new 19-foot tall sign that will serve as a landmark for Olivette. This sign, designed to resemble an olive tree, is intended to create a dramatic visual impact and signify entry into the city. The sign is expected to be completed soon, further enhancing the area's appeal.

In terms of occupancy, the Clover development is reportedly 96% leased, with 87% of the units occupied. The lobby and amenity space of this development received international recognition, ranking among the top six in the world in 2024. This accolade reflects the quality and attractiveness of the new spaces being created in Olivette.

Construction updates were also provided for Lot 3, where work is set to commence soon. The construction timeline is optimistic, with hopes of completing the building within four to six months, depending on weather conditions. This development will include various retail spaces, with several leases already in negotiation, including a restaurant and a smoothie business.

Additionally, plans for a new hotel were discussed. The city is moving forward with a revised plan to construct a four-story, 28-room hotel, reducing the originally approved five-story design. This change aims to streamline the development process and enhance the overall experience for hotel guests by minimizing construction disruptions.

The council also addressed the future of Lot 5, which was initially designated for an office building. Given the current market conditions, the city is exploring options to develop smaller buildings focused on food-oriented uses instead. This shift reflects a broader trend in the commercial real estate market, where demand for office space has significantly declined.

Overall, the meeting underscored the city's commitment to enhancing its commercial landscape while addressing community needs and safety concerns. As developments progress, the city anticipates further announcements regarding tenant signings and project timelines, aiming to create a vibrant and welcoming environment for residents and visitors alike.