Long time multi-million dollar Richmond Heights development deal on again - KMOV.com

Long time multi-million dollar Richmond Heights development deal on again

(KMOV) -- A long time multi-million dollar development deal that has been on and off again for years is on again.

The 57 acre Hadley Township site in Richmond Heights is just south of Highway 40 and east of Hanley Road.

Some residents want to move out and move on with their lives. One woman says the offer is 10 percent less than a previous developer’s but that was at a different time and the market was much different. The developer says he believes the prices offered are fair.

Vacant, boarded up, empty homes are scattered throughout the Hadley Township neighborhood. Neighbors who are still here do not invest in their homes.

Gateway Real Estate Partners from Clayton is the latest developer to come up with a plan. The company says the plan would consist of a development with office, hotel and retail space. The company hopes to have 75 percent of properties under contract by the end of May. It will then decide to either continue or stop the project. The neighborhood has been a developer’s dream with its central location with interstate and Metro-Link access.

He says he’s satisfied that things are moving forward but he’s disappointed residents won’t be getting as much for their homes compared to an earlier plan that fell through.

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