After McKee’s firm demanded $116M, city moved to seize Northside land
St. Louis Magazine • • business
Key Points:
- The St. Louis Development Corp. (SLDC) decided to pursue eminent domain against developer Paul McKee’s NorthSide Regeneration after McKee demanded over $116 million for land in North City, a price SLDC deemed unrealistic.
- SLDC plans to file a condemnation petition for 89 parcels near the new National Geospatial-Intelligence Agency West headquarters, with 81 parcels tied to NorthSide, as part of efforts to address stalled redevelopment in the area.
- SLDC criticized NorthSide for underutilizing $360 million in Tax Increment Financing and $43 million in state tax credits, alleging mismanagement and lack of progress on promised developments, while NorthSide’s lawyer denied these claims.
- The dispute includes conflicting accounts about who initiated
