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   City officials in Richmond Heights are calling it "a major milestone" in the redevelopment of the southern half of Hadley Township.   The City Council on Monday evening approved a redevelopment  agreement with Menard Inc.  

   The $63 million project includes $15 million in tax increment financing.  

   Once the site plan receives final city approval, the Wisconsin-based hardware retailer can set closing dates for 99 residential parcels it's buying east of Hanley Road.  

   "After many years of battling through unresponsive developers and the worst economy in many years, everyone's hard work is coming to fruition," Richmond Heights Mayor Jim Beck said. "The residents in the southern section of Hadley will be well set for the future. Richmond Heights will benefit from another great retailer."

   Menard's plans to build a two-story, 224,000 square foot home improvement store on the land just north of Maplewood's Walmart complex, and additional retail space along Hanley Road.

Published in Local News
Wednesday, 04 September 2013 04:48

Menards plan approved for Hadley Township

   Residents in the southern part of Hadley Township may finally know the fate of their community.  

   The Richmond Heights City Council  Tuesday night unanimously approved a plan for a $63 million Menards development.  The St. Louis Post-Dispatch reports that the approval includes $15 million in tax increment financing for the redeveloper, Menard Inc., to cover some development costs.  

   The paper reports that by the end of the year, the developers plan to notify property owners of closing dates on their sale contracts.  

   The new retail development will be east of Hanley Road, between of Maplewood’s Walmart development and I-64/40.

Published in Local News

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