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Pace Properties: Commercial Contracts in Works for Hadley

The development company made a presentation to City Council on Monday night in St. Louis.

Representatives with Pace Properties updated the on Monday about the status of its discussions with Hadley Township property owners. The company is planning a $125 million retail development just south of community center.

"You have some tremendous residents in that area," said Rick Randall, senior vice president of Pace. "They really are some awesome people, and they've got some big decisions to make, and I appreciate the fact that some of them are taking longer than I had hoped."

Randall said there are 68 properties in the area that his company has been working with. While the company does not have signed contracts for commercial properties, "we basically have come to an agreement in principle with each of those commercial owners," Randall said. A few of those properties are particularly complicated, and one of them involves a relocation. The company is working to get contracts for those properties.

As for the residential properties: "It's been a little tougher" than I had anticipated, Randall said. He said he and others met with Hadley residents at The Heights a couple of weeks ago and he thought that the meeting was productive.

A majority of residential-property owners have signed contracts, Randall said, and he continues to speak with those who have not. He's encouraging property owners to visit him at his office, at a Hanley Road office set up for development talks or at their homes.

"It's become a process, and we're committed to that process," Randall said. He said Pace hopes to sit down with the council and discuss a preliminary funding agreement by mid-September.

District 3 Councilman Ed Notter said it's his understanding neither the city nor the developer intend to pursue eminent domain. He asked whether that issue has arisen in talks with property owners.

Randall said the issue has been brought up. But he said change is happening as time goes on.

"The family units are coming together, discussing it and some decisions are being made by larger family groups at this time," Randall said. "Also, I think that as the project becomes closer and closer that people will defer to the greater good. But we'll have to get over the hill in every case or we won't be able to move forward."

More about Hadley Township redevelopment on Patch:

RDBet August 21, 2012 at 02:27 PM
A couple things resonate from that picture: upper left is the Heights -which is a Good use of taxpayer subsidy, that benefits many people in the area. A library, meeting space, pool, gym, tot care, programs, and exercise equiptment. It's in use all the time, and seems to be fulfilling a demand. It also employs many people in the area. Despite the function of a large structure, it is aesthetically pleasant and not obtrusive to the surroundings. Now they have a new top-notch playground area in the back. Also noticeable is how the Heights does all that, and yet is much smaller than the giant taxpayer-subsidized red rectangles. Worth noting, the business to fill that space will not be home-grown -so a good amount of the profits will end up elsewhere. Yes, I sense my whining here is non-productive, and we may be nearing the closing of the big box development frontier in the central corridor. I do realize the developments have helped the area,.but my hope is that the local municipalities can strike better deals for taxpaying residents, and work together instead of being pitted against each other by development forces. The detention pond, next to the monstrosity will be interesting. Hopefully, they can leave some trees around it, and plant more to make it pleasant.
Lancee Kurcab, Institute for Justice August 22, 2012 at 06:09 PM
Councilman Ed Notter continues to maintain that eminent domain will not be used to force homeowners out of their homes. Is this because the city is only using the threat of eminent domain to pressure homeowners to sell against their will? Either way, their plans have wreaked havoc on the lives of homeowners like JoAnn Bailey and Alice McGee, elderly ladies who originally purchased their lovely homes in Hadley Township some five decades ago. This is the third time JoAnne and Alice have told the city they do not want to sell their homes to a developer. All they want to do is live at peace in their homes full of precious family memories. Government officials should not be able to force JoAnn, Alice and their neighbors to do otherwise. Eminent domain is for public use—things like roads and schools—not so Pace Properties can replace the modest neighborhood with newer retail development that promises to bring in more tax revenue. Real negotiations between Pace and property owners can only take place once the city passes an explicit prohibition on eminent domain.

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