Business & Tech
Recent Charlestowne Mall Plan Nixed
Developers have pulled a plan for townhomes, apartments and a hotel at the nearly vacant mall.
ST. CHARLES, IL — After several years of back and forth regarding what should be done with the nearly vacant Charlestowne Mall, the most recent developer to submit plans to the city has pulled plans to redevelop the site.
S.R. Jacobson Development Corporation and Lormax Stern Development Company LLC had entered a purchase agreement with mall owners, The Krausz Companies LLC, and proposed to raze most of the mall before adding 560 townhomes and apartments, a hotel, new restaurants and retail along East Main Street, Shaw Media is reporting. In recent months, city officials expressed concern over the plans and said more entertainment options at the mall, as well as a residential component, would be a better fit.
On Friday, St. Charles Mayor Lora Vitek cconfirmed the developer would not be moving forward with its plan, according to Shaw Media. City officials are hopeful another developer will come forward with a plan that better matches their vision for the space.
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Currently, the mall only houses Von Maur and Classic Cinemas Charlestowne 18.
Find out what's happening in St. Charlesfor free with the latest updates from Patch.
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