The Boulevard, a proposed mixed-use development across from the Galleria in Richmond Heights, has been half complete since 2005; city officials took a step Monday leading to finally finishing the project, KMOV reported.
A Chicago-based developer wants to buy the completed and uncompleted property from Pace Property with the hope of finally finishing it. Richmond Heights officials at their meeting took the first vote to approve the sale. The final vote is due on October 3. It’s expected to pass.
Council has first reading of Bill No.5485, assigning development rights to new Boulevard owner CE Boulevard I LLC. Vote will be on Oct. 3.
— Richmond Heights, MO (@RichmondHghtsMO) September 20, 2016
Phase two would extend the existing shopping complex to Antler Drive, replacing a strip mall and Mattress Firm store.
Richmond Heights City Manager Amy Hamilton said the project will have retail with some residential above the retail. The Richmond Heights TIF Commission voted in December to recommend a $15.3 million, 23-year TIF for the $78.9 million project.
Clayton School District board president Susan Buse said in the December meeting that the proposed apartments would add students to the district, without the revenue to support their education.
Hamilton says they are aware of the district’s concern, but without tax incentives the project would not happen, KMOV reported.
NextSTL reports that the project could begin in late 2016.
$78.9M Boulevard South Mixed-Use Project May Start Late 2016 https://t.co/vwsxu6YIIi pic.twitter.com/AqWqRUasLe
— NEXTSTL.com (@NEXTSTL) September 20, 2016
The city of RH would be nuts to give these guys any TIF money. This is prime real estate directly across from this region’s leading mall and with the metro-link stop a short walk away. It is time to say no to this insane practice of corporate welfare.
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