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Sunday, June 7, 2009

Post-Dispatch Covers Urban Assets Early, And Hopefully Often

Tim Logan has a good article on Urban Assets LLC in today's St. Louis Post-Dispatch.

If only the daily paper had published a story like this when Blairmont Associates LC et al started buying...


Anonymous said...

Mega-Alert: "I'm not buying any more," said McKee, who said he's already spent $46 million on NorthSide. "I can't afford what I've got now.

Perhaps someone else is interested in cashin' in on mega-warehouses, mega-trucks and mega-pollution?

Tony Renner said...

i like how mckee is suddenly playing for sympathy: "i can't afford what i've got now."

well, i can't afford the repairs the city has required me to make on my northside -- lewis place -- home but i'm going to make them...

there goes my income tax refund check... economic stimulus!

barbara_on_19th said...


McKee also denied buying in north city for years, then was exposed, then made statements in the press saying he didn't own as much as he owned, then kept buying. He has stated that this was his busiess plan, to keep his ownership quiet and hold down property values through the acquisition process.

Recently, as you note, McKee assured our community leaders he was done buying. Then Steve Stone (his lawyer) showed up to bid *against* the Old North St Louis Restoration Group for a building next to their Crown Square project, driving the price up an additional $28,000 before dropping out. ONSLRG had to keep going... McKee already owns several residential buildings around their wonderful residential and business district project which he has allowed to become vacant and then fall to ruin. A neighborhood group doing great things with limited money does not have an additional $28K to spend fighting off a huge speculator who has announced "I'm not buying anymore". It is really, really disrespectful to say one thing in the press and do another thing in someone else's neighborhood.


BSever said...

Barb -


When did this happen? Which building was it?

Is he trying to openly antagonize ONSLRG or what?