New signs sprout at Eagle River Station property near Eagle
EAGLE — Five years ago, the pasture immediately east of Eagle was the hot topic of community conversation as voters prepared for a referendum about the proposed Eagle River Station development.
This week, for the first time in months, there was some action at the Eagle River Station site — albeit a modest one. New signs have been erected at the property, directing interested parties to call RED, the development company, “for information.”
According to Jeff McMahon, RED Development managing partner for architecture and engineering, a “for information” sign is not a “for sale” sign.
“There is no change of status on the project and the new sign doesn’t represent any change,” McMahon said. “We’re currently working on several potential opportunities that are exciting. It’s a very large property and we want to be sure that we know as many of the potential opportunities as we can as we decide the direction to go on the property.”
While the large commercial and residential project was approved by the voters back in 2012, RED Development of Kansas City, Missouri ultimately decided against proceeding with the approved plan. In 2015, the three-year deadline for RED to submit a final plat for the project, as approved, expired. That means if the project returns to Eagle, then it will launch an entirely new review process.
The Eagle River Station plan called for a commercial and residential project at the 88-acre property located on the eastern end of town, south of Interstate 70 and north of U.S. Highway 6. The proposal called for 582,000 square feet of commercial space and 250 rental units in the first phase, with another 150,000 square feet of commercial space and an additional 300 rental units in the second phase. As part of the proposal, there was an estimated $35 million price tag for RED to pay for public improvements to the site, including $18 million estimated for a new I-70 interchange at the site.
When the company opted to allow its town approval to expire, McMahon said the costs, combined with the current economic landscape, didn’t add up.
“Hopefully we’ll be able to make some announcements in the near future,” McMahon said.
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