Latest news with #NorthsideRegeneration
Yahoo
11-05-2025
- General
- Yahoo
Demolition looms for two vacant buildings near Downtown St. Louis
ST. LOUIS – Two vacant buildings just north of Downtown St. Louis appear to be on track for demolition after city officials say a fire last weekend caused significant structural damage. The properties, located at 1301 North 6th Street and 1308 North 7th Street near O'Fallon Street, sit just a few block north of the Dome at America's Center in St. Louis' Columbus Square neighborhood. City property records show the buildings are owned by Northside Regeneration LLC, a development entity associated with Paul McKee, whose large-scale redevelopment plans for north St. Louis have drawn criticism in recent years. Following the recent fire, the City of St. Louis Building Division tells FOX 2 it 'initiated emergency condemnation proceedings under its Emergency Provisions protocol,' a step that allows the city to move quickly when a structure poses an immediate safety concern. The Building Division shared this statement with FOX 2, in part, on behalf of Commissioner Ed Ware: 'During this process, a representative of the property owner contacted the Building Division to communicate their intent to engage a licensed demolition contractor. In light of this development, the Building Division has temporarily paused the emergency demolition process to allow the property owner's representative time to obtain the necessary documentation to proceed with demolition. The City of St. Louis' Building Division remains in active coordination with the property owner's representative to ensure all required permits are secured prior to the commencement of demolition activities.' While the exact demolition timeline remains unclear, the city's actions appear to be part of a coordinated effort to address the two damaged buildings in the interest of public safety. NOTE: Video attached to this story is from FOX 2's April 24, 2025 report of an effort to address vacant buildings in St. Louis. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-03-2025
- Business
- Yahoo
St. Louis moves to buy more than 100 vacant properties after developer's broken promises
After years of stalled promises and crumbling properties, St. Louis officials are taking matters into their own hands. The city of St. Louis is looking to purchase more than 100 vacant properties on the city's north side, most of which are owned by Paul McKee's Northside Regeneration LLC. But according to 5 On Your Side that wishful thinking is turning into a nightmare. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP According to the Northside Regeneration website, the company planned "a large-scale and holistic transformation of a two-square-mile section of north St. Louis City." It claimed the development would create 43,000 construction jobs and 22,000 permanent jobs. Internet archives show that the Northside Regeneration project has been in the works since at least 2009, but city officials say the developer has failed to follow through on those promises. Alderman Rasheen Aldridge, who represents Ward 14, emphasized the long history of stalled development in the area and the frustration it has caused residents. "Paul McKee isn't somebody that just popped up on the scene,' he told reporters. 'This has been a man who has been buying property in my neighborhood since I was a kid and hasn't done anything with it. He's been sitting on them letting them crumble." Aldridge added the failed development plan is not just about unrealized dreams — leaving the properties vacant also puts residents at risk. Last year, St. Louis Mayor Tihsaura Jones signed a bill to allow economic redevelopment in the area. The St. Louis Development Corporation (SLDC), working through the Land Clearance for Redevelopment Authority, has begun efforts to reclaim these properties through a buyout process. Over the past two months, the city has sent offers to purchase 146 properties, with the first round including 87 properties and the second round adding another 59. Officials are collectively offering over $1 million for the properties, giving owners 60 days to accept or reject the offer. If property owners refuse, the city may use eminent domain to purchase the undeveloped properties. Either way, Aldridge sees it as a win for St. Louis residents. "To have a process where we can get some of these beautiful brick buildings in north St. Louis either rehabbed and some that can't be demolished and figure out what is the next step, I think is a huge positive thing," Aldridge said. According to 5 On Your Side, the city's plan also includes 59 properties in Jeff-Vander-Lou and St. Louis Place. Read more: Gold just hit a historic high of $3,000/ounce on Trump's tariff moves — while US stocks got slaughtered. Here's 1 simple way to prevent more pain within minutes For homeowners in north St. Louis, the city's buyout plan could significantly impact property values. Renovating long-neglected properties and introducing new developments could help stabilize or increase home values by improving the area and bringing jobs. Vacant buildings often contribute to crime, lower demand and declining property values — issues the city hopes to address with this initiative. However, some residents are concerned about gentrification. If redevelopment leads to high-end housing or commercial projects, long-time residents could face rising property taxes and increased living costs, potentially pricing them out of their own neighbourhood. The city's plan is a major step in St. Louis' broader efforts to revitalize the north side, but, officials have yet to disclose specific redevelopment plans. The city is engaging residents through community meetings and collaborative neighborhood planning. 'These neighborhood plans will help to proactively guide development that benefits all of our residents and community members,' said Don Roe, executive director of the City's Planning & Urban Design Agency. Whether the city's buyout effort will succeed remains to be seen. For now, homeowners and residents in north St. Louis are watching closely, hoping this initiative leads to meaningful change after decades of broken revitalization promises. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
