Pace Properties and Menards Get Extensions for Hadley Work

Pace Properties and Menards on Monday received more time to sign and fund their respective preliminary funding agreements in Hadley Township.

It happened during a meeting of the Richmond Heights City Council. The extensions run through Sept. 17.

"The reason we're doing this is that our funding agreement came due but the project has not moved forward in a timely matter," so the city had to authorize an extension for contractual reasons, Mayor James Beck told the audience.

Pace is planning a $125 million retail space just south of community center. Menards hopes to develop the space just north of Maplewood's Walmart.

City Manager Amy Hamilton said the council could request the presence of Hadley and Pace representatives at one of its two August meetings for an update on the progress of the developments.

"I don't think there's enough progress to report yet," Hamilton said.

Mayor James Beck recommended calling the developers in for the first meeting of August. In the meantime, he will host a question-and-answer session about Hadley with the public at 6:30 p.m. this Wednesday at .

Menards has begun sending its buyout offers to property owners, Hamilton said, though it's not clear how many.

District 2 Councilman Mike Jones said two residents of Banneker Avenue reported receiving letters from Menards updating them about the development process.

More about Hadley Township development on Patch:

• Hadley Township story archive