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September 19, 2014, 8:55 pm
970 WMAY News

Plans for Development of Esquire Theater Scrapped


A proposal to turn the old Esquire Theater on South MacArthur into a retail strip center has been pulled.

 

Developer Chris Stone tells the State Journal-Register that he decided to drop the project when officials… including Alderman Joe McMenamin… pushed an alternative proposal that would have added residential units and a seven-story office tower for the site.

 

Stone says the size and cost of the alternate plan was beyond what he was ready to undertake. McMenamin says a mixed-use proposal is better suited to the long-range plan for MacArthur, and says the Hy-Vee development and the MacArthur TIF improve the chances of that happening.

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