A real estate firm has informed residents in a subdivision long eyed as the potential home for commercial development along Interstate 270 of plans to buy them out in a push for a "multi-anchor-based retail shopping plaza."
This is not the first time residents in the Orchard Lakes subdivision have heard talk from developers. Interest perked up a few years ago from THF Realty and reportedly included meetings with residents back in the summer of 2011.
The St. Louis Post-Dispatch reported at that time that there were 256 homes in the subdivision.
In a letter to residents from The Devereux Company obtained by Patch, company President Dan Devereux told residents that he is prepared to make "generous offers" worth more than the value of homes to get residents on board through the approval process for any potential project, which he wrote could take between 18 months to two years.
Devereux Company officials could not be reached for comment Monday afternoon.
The letter indicated Devereux was looking for full participation from residents before going forward with plans and that he was "not interested in using eminent domain as a tool to acquire any homes or property."
Devereux plans to discuss his proposal at an upcoming subdivision meeting next week.
Creve Coeur City Planner Whitney Kelly said Monday the city had not heard anything regarding the project and that it was unclear what, if any city approval would be needed for the project. Currently, Kelly said, the road leading into the subdivision is the only property within city limits.
City leaders have in the past identified this area of unincorporated St. Louis County as a potential annexation target but have moved off that as a specific short-term goal in recent planning exercises.