Kinney Drugs, SLU negotiate deed restrictions

12/29/2008

CANTON, N.Y. St. Lawrence University has helped to hip-check national drug retailers Walgreens and Rite Aid out of coveted corners here for the next 50 years, the local daily Watertown Daily News reported Wednesday.

According to the paper, Kinney Drugs negotiated deed restrictions with SLU within the last five months on two properties—near the SLU golf course at routes 68 and 11—that will prevent for 50 years a store that sells prescriptions.

"We've heard the kind of rumors that everyone else has," university spokeswoman Macreena Doyle told the paper. "We were given the impression that this was highly valuable property and we looked for some of that value."

The deed restrictions reportedly cost Kinney $200,000, and precludes any development of a drug store, dollar store or health and beauty aids store on the vacant property, but allows for a convenience store, food store, restaurant or supermarket so long as it doesn't have a pharmacy.

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