Pace Properties to Set Up Hanley Road Office, Hopes to Open $125 Million Retail Space

The company is making progress acquiring properties, but not as quickly as it had hoped.

Pace Properties will set up an office at 1600 S. Hanley Road in an effort to facilitate talks with Hadley Township property owners, City Manager Amy Hamilton told Richmond Heights City Council on Monday.

Hamilton spoke at . The office likely will open by the first of next week, she said.

They are "going to have some standard hours," she said, and representatives also will meet with property owners outside of that period. just south of The Heights community center.

The company is making progress acquiring properties, but not at the rate at which it had hoped, Pace has been handing out contracts to property owners for about a month.

Meanwhile, Menards has experienced challenges ahead of handing out contracts, Hamilton said. She expects that company to begin working with property owners by the end of June or the beginning of July. just north of Maplewood Commons.

Both companies have asked for tax-increment financing (TIF) to help with the cost of their projects.

The city sent out letters Friday to update Hadley Township property owners. The document is set to be posted on the city's website by Tuesday morning.

A public TIF meeting is planned June 27 at .

More about Hadley Township redevelopment on Patch:

RDBet June 21, 2012 at 02:16 AM
Menards- just what the area needs...... more capitalism on the taxpayer dime.


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