Tesco's new superstore planned for Lisnagelvin in the Waterside will cost around £50m and also create 200 extra jobs on top of those in the building project.
DUP Alderman William Hay, who has been working with the company and the planners, says he's expecting planning approval for the development to be given shortly.
"It's been a long time coming," he said. "It's been five years in the planning but the development will be worth waiting for.
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"It will be an exciting time for shoppers not only from the Waterside but the city as a whole.
The existing Tesco store at Lisnagelvin is one of the most successful the company has in Northern Ireland. It's to be demolished to make way for the new store.
Towards the end of last year, Tesco submitted a revised application to the Planning Service for an 80,000 sq ft modern supermarket at Lisnagelvin.
It's believed further employment will be created in 13 retail units within the new centre.
A second application for a store on the Buncrana Road - which could create a further 200 jobs - is currently with the Planning Service.
If it gets the green light, it will represent an additional £20m investment in the Cityside and will see Tesco almost double the number of people employed locally to 1,000.
See: Planners Provoke Forecourt War
(BMcC/GK)
