St. Louis plans to buy over 100 vacant properties

St. Louis city officials are set to buy over 100 vacant properties. Most of these are owned by a developer named Paul McKee. He has made many promises for development since 2009 but has not delivered. Residents are frustrated because the area has seen little improvement while properties remain abandoned. Alderman Rasheen Aldridge, who represents part of the area, criticized McKee. He said McKee has owned properties for years but has allowed them to fall apart. Aldridge believes redeveloping these properties is critical for local safety and community improvement. Last year, Mayor Tishaura Jones approved a plan to spur economic development. The St. Louis Development Corporation is now working to buy these vacant properties through a buyout process. They have made offers on 146 properties so far, totaling over $1 million. Owners have 60 days to respond to the offers. If owners refuse, the city could use eminent domain to acquire the properties. Aldridge sees this as a positive step, helping to reclaim beautiful buildings in the area. The buyout plan also includes properties in other neighborhoods, including Jeff-Vander-Lou and St. Louis Place. Local homeowners are hopeful that the plan could raise property values. Renovating these vacant properties might attract jobs and improve the area. However, some residents worry about gentrification. New high-end housing could increase taxes and costs, pushing longtime residents out of their homes. The city's redevelopment plans are not yet clear. Officials are reaching out to the community through meetings to gather input. They aim to create development plans that benefit all residents. The success of this buyout effort remains uncertain. For now, residents are watching closely for real change after years of disappointment.