Construction could start this spring at former St. Charles Mall site
The redevelopment of the long-vacant St. Charles Mall site could begin as early as March after aldermen approved another step of the project Monday night.
Developer Shodeen Group LLC expects to break ground this spring on two apartment buildings slated for the 26-acre property - the first piece of a commercial and residential development that will likely be phased in over several years, said Rita Tungare, the city's community and economic development director.
Plans for the Prairie Centre project include the construction of at least 609 apartments. If all goes well, developers hope to add a retail and restaurant component, as well as a 61-unit affordable senior housing complex.
"It's another destination. It's another place for people to visit, live, work, shop," Tungare said. "From an economic development perspective, we want to see the investment in the community."
The city council unanimously approved the development's final plat, a necessary step before building permits can be issued, she said. Developers have been working to finalize engineering plans and begin preliminary site preparations.
"We're really happy to see that get underway," Mayor Ray Rogina said.
The city has seen multiple development plans proposed for the former mall site in the last two decades, some of which were rejected by aldermen who thought the plans didn't include enough retail. The lot, near the Randall Road and Route 38 intersection, is one of the last developable properties with enough traffic to support major commercial development.
According to project plans, the retail portion of Prairie Centre would be developed based on market demand and is not guaranteed. That notion caused uneasiness among some aldermen, including Rita Payleitner, when the project was initially approved last March.
"I'm very excited about it," Payleitner said. "My concern was that the city wasn't protected enough to have assurance that the project would come across as presented."
Developers, who have been working with brokers to market the site, have already received some letters of intent from potential tenants, Shodeen President David Patzelt said in a Jan. 12 letter to the city. Last year, company representatives said it's unlikely the mixed-use components won't be built, but there is no set timeline for that portion of the project.
"We all know that market conditions change every so often ... so it's hard to predict," Tungare said. "It's in their best interest, as well as ours, to get some retail interest.