$5.5 million property sale included in Richmond Heights budget

The planned sale of 4.5 acres at the northeast corner of Hanley and Dale from the city of Richmond Heights to Summit Development was included in the 2016-17 city budget, according to city manager, Amy Hamilton.

The lot is under contract with Summit Development Group for $5.5 million, Hamilton said.

A hotel, restaurants and retail space are planned for the property. No specific hotel has been named.

Planning and zoning was to hold a public hearing on a preliminary development plan for 8015, 8111 and 8131 Dale Avenue at its May 19 meeting, but it was postponed. The petitioner, Summit Development, is also seeking a site plan review and approval of a final development plan, including the location of a 15,500 square foot retail building, according to the agenda.

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One thought on “$5.5 million property sale included in Richmond Heights budget

  1. I hope they remove the inclusion of a “big box” retail space from the plan. There are already going to be a few vacant spaces of that type nearby in Brentwood (Office Max/Depot and soon Sports Authority) and it seems as though those types of business are hard to replace when they leave. Keep the restaurants but drop the big retail. I hope they opt for smaller spaces that we can get local boutiques or shoppes to occupy.