Mills To Purchase Former Gerber Site
February 25, 2005
In a special meeting of the Rock Hill Board of Aldermen last week, Mayor Mike Conran announced that the city has sold its property at 2630 McKnight Road to Mills Properties, Inc., for $1.950 million.
The property, once intended for a $13 million city center, was purchased in November 2003 from Rock Hill Quarries for $1.75 million.
Sansone Properties had also expressed some interest in the property. It had proposed proposed building two, two-story office buildings, one of which would be its corporate headquarters on the 7.7-acre tract. The development would total 80,000 square feet.
Acting City Administrator Don Cary told the Times that the board had looked at both proposals and that both were very good with "interesting ideas."
He said that Mills would use Chapter 353 which was approved, that will allow tax abatement for five years.
"He has to have an acceptable agreement with the Webster Groves School District for this," Cary said. "He will also have zoning to allow multi-family use of that area.
"The board also approved a prefunding agreement of $50,000 which we will use for a blight study and for our attorney's cost for going through all the different stages between now and closing," Cary added.
The $11.5 million development will consist of 82 units averaging 950 square feet, with some being 1,100 to 1,200 square feet. The complex will also include a pool and courtyard. Groundbreaking is slated for this summer.
Cary added that Mills would start the units as apartments and convert them to condominiums in five years.
"He also talked about the possibility for Rock Hill residents moving into the units, and using 25 percent of their rent for a down payment on a condo, when they do convert."
Attempts to reach Mills for comment were unsuccessful.