Charlestowne Mall in St. Charles, Illinois has struggled in recent years (earlier posts here and here). Yet, when a developer proposed adding 500 apartments to the property, residents and local leaders did not like the idea:
Plans were to raze the majority of the largely vacant mall to make way for 560 apartments and townhouses, a hotel, new restaurants and retail spaces along East Main Street…
“It’s a good plan but the question is, is this the best use of space?” 2nd Ward Alderman Ryan Bongard said at the meeting. “In speaking with constituents, they don’t want to see 500 apartments.”
On Friday, St. Charles Mayor Lora Vitek confirmed the developers have pulled out of the project. The partnership of S.R. Jacobson Development Corporation and Lormax Stern Development Company LLC had previously entered into a purchase agreement for the former Charlestowne Mall property with current owners The Krausz Companies LLC.
In December 2017, Krausz closed Charlestowne’s interior shops and enclosed mall space at the center. Anchors Von Maur and Classic Cinemas Charlestowne 18 remains…
“That’s the overwhelming comment that I have heard through the city council,” Vitek said. “And I do believe that we can try to accomplish that. We shouldn’t settle. We’ve got a lot going for us. We know there needs to be more people here and we’re going to bring residential, but there needs to be a balance over there, too. The east side is very important to our town, but we do want to see the right fit.”
On one hand, I can understand this common suburban concern: if you eliminate commercial property and rezone it for other uses, will you ever get the same amount of money in tax revenues from the property? A successful shopping mall or entertainment area brings in sales tax revenue in addition to paying property taxes.
On the other hand, this particular shopping mall has languished for years. Shopping malls in general face big issues and many will not survive. There are only so many suburban entertainment districts that will work. A willing developer wants to build a mix of residences and businesses and it is not enough?
Here is my guess about what scuttled this project: suburbanites do not often like the idea of hundreds of apartments, particularly when they are located in a community that sees itself as full of nice single-family homes. Apartment dwellers are looked at with suspicion. Apartments threaten the single-family home nature of the community as they can increase traffic, bring more kids to local schools, and threaten local property values. Even expensive apartments are not desirable in large numbers.
As St. Charles does not “settle” for this kind of proposal, what better option will come along?
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