City taking over Fleur de Lis site?

I have a little follow up on the situation with the Fleur de Lis project site. Kind in mind that this is only a rumor at this point, but apparently the City’s Land Reutilization Authority (LRA) was none too happy about Millennium trying to sell the site. They went through a lot of effort and spent a lot of money to secure the site from the former gas station and Hardees that formerly sat at the location and were a little peeved that Millennium was trying to make a profit at the taxpayers expense.

Word has it that there was a “Right of Re-Entry” clause in effect and that the City is calling it in. Perhaps the they will take over the site and shop the development at a more reasonable price to local developers. Anyone want to take on a big project? Please remmeber that this is only a rumor at this point. I’m sure we’ll find out more in the coming weeks.

For more information, check on my past entries on the matter:
Fleur de Lis – Benton Park project goes from dream to dead
Fleur de Lis – Property no longer for sale

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  1. Hyraulic Brick Lofts coming to Benton Park West | St. Louis Real Estate Investment and Development News - July 8, 2008

    […] always love unexpected developments. If you have been following the death of the Fleur de Lis project at Jefferson & Arsenal, you will understand why the lack of activity at the site is so […]

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