Newspaper article St Louis Post-Dispatch (MO)

University City, Building Owners at Odds Six Sue over Fair Market Value in Loop

Newspaper article St Louis Post-Dispatch (MO)

University City, Building Owners at Odds Six Sue over Fair Market Value in Loop

Article excerpt

At face value, $7,000 for a three-story apartment building in University City's popular Loop area sounds like a good deal - if you're the buyer.

Sandra Keely, the property's former owner, says she got a raw deal when the city condemned her building at 808 Kingsland Avenue. She alleges that she received far less than market value when the city sold her 45-by-100-foot lot and three two-bedroom apartment units to Parkview Gardens Association for $7,000.

The association, a nonprofit development corporation, has spent almost $5 million to rehab 64 units in 10 buildings. They are all occupied now - but were once decrepit, said Mike Giger, the group's president. Now, the developer wants to fix up 11 more buildings in the area bordered by Delmar Boulevard, Olive Boulevard, Kingsland and Skinker Boulevard. But Keely and five other property owners who lost their buildings to eminent domain say they deserve more than what three court-appointed commissioners ruled the property was worth. Keely believes her property is really worth $100,000, according to court documents. Court documents filed by Marybelle Barnes, another former property owner appealing the commissioners' ruling, say her apartment building at 827 Westgate is worth "at least $195,000." Barnes' complaint also alleges that "defendant is African-American and all three commissioners are white and nonresidents of University City. . . . Therefore, defendant was denied due process." City officials deny the discrimination claim, responding that white as well as black property owners had their buildings taken. The city and the developer insist that they are doing something positive: taking vacant buildings and turning them into affordable housing that complements the nearby restaurant, entertainment and retail strip along Delmar. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.