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Developers present tenants, timeline and TIF request; commissioners ask for clarity
Summary
Developers said six of 14 lots have known users (Chase Bank, Dutch Brothers, Valvoline, McGrath‑prospective dealership) and outlined a two‑phased build with horizontal infrastructure first; they told commissioners they are seeking TIF assistance of roughly $3.3M–$4.8M for infrastructure.
Developer representatives told the Plan Commission that the Shops at Pheasant Run would initially deliver full horizontal infrastructure and that six lots have users identified or under negotiation.
Chris Ilekis said the master plan includes about 40,000 square feet of multi‑tenant retail in the first phase, with room for 8–10 restaurants and several multi‑tenant buildings. He said three of the six buildings shown are multi‑tenant (about 16–17,000 sq ft combined) and that Lot 14 is targeted for a 10‑acre auto dealer. "This project will provide significant economic benefit and help attract new businesses across the entire East Side Of St. Charles," he told commissioners.
Commissioners asked about public financing and the developer testified there are two TIF scenarios under consideration for infrastructure: a lower request of about $3.3 million and a higher scenario near $4.8 million depending on restrictions and commitments. Commissioners said the amounts were reasonable relative to the scale of the project and asked staff to track the subsidy request in staff recommendations to council.
Why it matters: Tenant commitments and public financing shape the commercial viability and public costs of redevelopment. Commissioners and staff emphasized the need for clear conditions on design and parking to support the planned tenants.
Next steps: The commission’s recommendation asks staff to ensure final tenant and leasing information is reflected in final engineering and site plan approvals; the TIF request will be addressed as part of council review if the council receives the PUD recommendation.
