Developer calls for more homes at St. Charles Mall site
In contrast to what St. Charles officials and residents have said they want to see at the old St. Charles Mall site, the owners of the property presented plans Monday for a development featuring even more homes than recently contemplated.
About a year ago, aldermen told the property owner, Shodeen, they prefer an emphasis on retail and commercial development on the 26-acre site. The former mall property is on one of the last major pieces of developable space near the high-traffic intersection of Route 38 and Randall Road.
But it's been vacant now for more than 20 years. Money borrowed by the city to help finance the demolition of the old mall buildings was supposed to be repaid by new tax dollars generated by new development at the site. Without that development, the city has had to supplement the repayment of bonds with nearly $98,000 from the general fund. There is still $1.3 million left to repay.
While reminding aldermen about that outstanding debt coming due, representatives from Shodeen said a development with more residential property is what the market will support. The new plan calls for 670 residential units, up from the 609 in the previous proposal.
"Our studies have found there is no demand for the commercial, and there is demand for the residential," said Shodeen President David Patzelt.
Aldermen requested Patzelt share those studies with the city to show what support he has for his claim. Patzelt declined, saying those studies are proprietary and would give competing residential projects an unfair information advantage.
The increase in homes has an element that may be a sweetener for the city. Aldermen have been vocal advocates for the creation of more affordable housing in the city, especially housing for senior citizens. The 61-unit increase is envisioned as a senior living facility.
Alderman William Turner led the charge on that front Monday night.
"If it's going to take that many units to get some affordable housing in the city, so be it," Turner said. "I'm all for this thing."
But other aldermen, including Maureen Lewis, told Shodeen the vision seems headed in the opposite direction of what the city wants.
As it stands, the project includes 10 residential buildings, six retail/restaurant buildings and six mixed-use buildings. But the plan states three of the six mixed-use buildings are "optional" and could be converted to homes if the market pushes it that way.
Shodeen representatives said they believe they can fill all the homes planned for the site within five or six years.
Patzelt said he hopes in the five to 10 years it will take to complete the project the commercial demand will arise. If that happens, Patzelt said he would increase the commercial component, but he would not make a firm commitment. Instead, he threatened to strip out all the commercial units and come back with plans for an all-residential project.
"If you don't want to approve this, we understand," Patzelt said. "We'll be back with a straight residential zoning. We are happy to do that. There is a big demand for apartments."
Aldermen declined a preliminary vote on the proposal as there are several negotiations ongoing regarding various utility connection fees Shodeen wants reduced. Aldermen may host a special meeting for a vote if those negotiations come to a successful conclusion in the near future.