Menards, on Monday, cleared a large hurdle in its plan to build a store in Richmond Heights. The company reached agreements with all 100 property owners in the development area, north of the Walmart in Maplewood Commons up to Elinor Avenue
Richmond Heights City Manager Amy Hamilton announced in the council meeting Monday night that the city got the preliminary funding agreement and a check for the remaining $75,000 due.
“Obviously there’s still a lot of work that needs to be done,” she said. “This was a great step forward that we were looking forward to.”
Peter Sheahan, representing Menards in the real estate talks, said he reached agreements with all 100 property owners as of approximately 6 p.m. on Monday.
At the Nov. 19 council meeting, Menards had 98 of the 100 owners signed, and the council voted to extend the deadline to Dec. 4.
“It’s been a long task,” Sheahan said. “Unfortunately we’re quite over budget, but we’ve come a long way in a short period of time.”
He said Menards will begin sending out RFPs to begin the physical due diligence part of the project.
Hamilton said environmental and geo testing will be part of that work, which will begin next month.
District 2 Councilman Michael Jones asked about utilities such as water and electric being interrupted in Hadley Township north of Elinor Avenue. He said residents had contacted him with concerns.
Hamilton assured him that wouldn't be a problem.
District 2 Councilman Rick Vilcek asked Sheahan if the project might cause any school children to not finish the year at Maplewood Richmond Heights.
“Right now we really don’t have a definitive schedule,” Sheahan said. “I can’t imagine there will be a problem with 2012-13 school year. I think we’re safe.”
The Hadley Township Development area is divided east to west by Elinor Avenue. Pace Properties attempted to develop the area north of Elinor. Pace gave up the project in September when they weren't able to reach agreements with all the owners.
More in Patch:
- Menards Gives Hadley Update in Richmond Heights
- Deadline Extended for Menards to Get Funding
- Hadley Township: Menards Making 'Very Positive Progress' on Contracts
- Blogger: Menards Will Aggravate Hanley Congestion
- Pace Properties Abandons Hadley Township Retail Development