St. Charles OKs apartments on old mall site
When it came time to decide what will occupy the old St. Charles Mall site after 20 years of dormancy Monday night, some aldermen voted for what they hope will happen while others voted according to what they feared would never happen.
Aldermen, in a 6-4 vote, approved a residential/retail development for the 26-acre site that for sure will see at least 601 apartments. If all goes according to plan, the Prairie Centre project will also include bustling retail/restaurants and a 61-unit senior housing complex.
That's the vision that evoked the six “yes” votes. Mayor Ray Rogina also spoke in favor of that vision.
“I have ultimate faith that the developer will provide a west gate to St. Charles that's certainly much more graceful than what we currently have out there,” Rogina said.
The comment referred that the vacant lot that's been the focus of multiple development proposals in the past two decades. All failed because either the market didn't support the plan or city aldermen rejected the vision for not including enough retail. The site, near the intersection of Randall Road and Route 38, is one of the last significant parcels of developable land near the type of high traffic that could support major retail.
It was the lack of any guarantee on the retail portion of Prairie Centre that again fueled “no” votes Monday.
Shodeen, the developer and property owner, told aldermen in the months leading up to Monday's final vote that the current market won't support major retail development. The market is starving for apartments, Shodeen representatives said. That sentiment is reflected in the deal aldermen inked Monday. It's possible none of the proposed retail spaces will become a reality. Shodeen is committed to building only the retail as the market dictates.
Alderman Rita Payleitner said she could not support a plan with no guarantees for anything other than hundreds of apartments.
“The developer has told us repeatedly that this project will be built as the market warrants,” Payleitner said. “My concern is that the mixed-use portion of this development will be delayed indefinitely.”
In response, an attorney for the developer said there is no firm timetable to build any of the retail spaces.
“We know the developer believes there is strong demand for residential,” said Shodeen attorney Peter Bazos. “If there is some demand for first-floor retail, they will build some.”
“So we don't have any assurance that they will be built?” Payleitner asked.
“No, though I can't imagine the developer will walk away from the residential above that space even if the retail below is a tough sell,” Bazos replied.
“No” votes by Payleitner and fellow Aldermen Art Lemke, Jo Krieger and Maureen Lewis followed that response.
Except for Rogina, supporters of the project on the council did not provide comment. Rogina said there are “issues about whether or not retail will appear,” but the possibilities of what else could grow from denying the Prairie Centre plan are more problematic.
Those alternate possibilities involve a plan for 400 apartments with no residential and a lawsuit if aldermen also reject that plan. The bill is also coming due on the bonds the city sold to support a tax increment finance district on the site.
“I don't mind staying focused, but for how long?” Rogina asked. “This (TIF) money continues to go away to nothing. Are there costs here? Certainly. But it's time for us to move forward.”
Bazos told city officials construction of the apartments will begin as quickly as possible.