Pace Properties has pulled out of the Hadley Township redevelopment plan because it could not reach agreement with all of the homeowners. That is not what I am happy about. I would be very happy to see a redevelopment in the area if it is a result of voluntary property sales and done without tax subsidies.
What I AM happy about, to say the least, is that Pace will not be exercising eminent domain to take the property of people who did not want to sell. They could have done so. They had the legal authority to use eminent domain. They chose not to. Pace Properties officials deserve praise for their restraint.
I am holding off on praising Richmond Heights officials until we see how the Menard’s project next door (also within Hadley Township) goes through.
Private property rights are more important than another commercial development. Forcing people out of their homes would have been immoral. I am very happy for the Bailey, Parker, Tompkins, and Abrams families, who will be able to stay in their homes. Please check out the video of the Show-Me Institute’s interviews with these families here.
However, let’s not deny the great damage done to the neighborhood through the entire process because of previous potential developers and the city. Government involvement caused the recent history of deteriorating property, vacant homes, and more. Residents of Hadley Township are now in a difficult situation that the government caused because it involved itself in real estate development. It was completely avoidable if the city had not become involved.
