Orchard Lakes Subdivision Residents Wait For Buyout Offer

A few weeks after residents of a large subdivision situated between Creve Coeur and Maryland Heights gathered to hear a developer's pitch to buy them out, residents are waiting to hear back about what they'd get in return for giving up their homes.

The developer, Dan Devereux, has pledged to talk about the project soon but has not commented on it besides the letter he shared with residents prior to the May 22 Orchard Lakes subdivision meeting, which was closed to the public. The letter promised offers worth more than the value of the homes.

According to sources who were in the meeting, Devereux did not specify a dollar amount on the offer but said that an offer 2 to 2 and a half times a home's value would not make the project work. Also unclear is how much "earnest money" would go to residents who could keep it in the event the proposal doesn't move forward.

Patch readers have posted their own observations since the meeting.

Said "Chris":

"I live in the subdivision and I can not wait for these offers to come in and to find out what is going to happen. I for one plan on taking it if it is good. The subdivision is in rough shape, the sewers are falling apart and too many of the owners have moved away and just rent the homes to people who are not taking care of them or they are switching out tenants every year. If this one fails another will come and sooner or later one will get it. The hold outs are getting older and the younger families are going to jump at a chance to get out of their homes with doing absolutely no repairs."

"20 Ft. High" said the meeting referenced talk of a "fly over bridge off of 270" and that Devereux said he would know within "90 days after he sends the offer out whether the project is do able."

One resident who said he could support a buyout was also curious to find out what would happen if all but a few residents went along with the idea. Devereux's letter to residents last month indicated he was not interested in using eminent domain to obtain any property for the project.