No progress on proposed Iron Works project

The Iron Works project, which has been in the developing stages for almost two years, is still showing no signs of progress according to a Suburban Journal article. The area to be redeveloped is roughly 40 acres, and is, according to Pace Properties, "a 330,000 square foot retail center with a mix of 'big box', 'junior box', and typical neighborhood retail establishments. Strategically located at the corner of I-55 and Weber Road with 1600 feet of frontage on I-55, this Center will conveniently serve Lemay residents, South County residents and those living in South City. The project will also include several outlots for fast food restaurants, financial institutions and other freestanding retailers."

It's an interesting project, but I'm curious to see who the tenants will actually be. Rumor has it that Wal-Mart will be the anchor, and while I'm sure it would serve the area well, do we really need another Wal-Mart?

Also important to note is that if progress isn't made, the residents that have their homes under contract, and are being paid 2.5 times the value for their home, could end up with eminent domain taking their house because a lot of the contracts are apparently set to expire.

Interestingly enough, the land developed sits directly across from City Limits. Rumor has it that the developer approached Alderman Villa about including the City side in a larger development plan, but Villa got so blasted over the Loughborough Commons eminent domain fiasco, he didn't wish to get incolved with another shopping center. It's unfortunate for the city, because they lose out on tax revenue that the county will be gaining.