OREGON (WTOL) - A few weeks ago, WTOL told you about a plan in Oregon to develop a downtown center for the community.
The city of Oregon has finalized a lease agreement for the property of the former Kmart off of Navarre Avenue.
After the store closed a year ago, the city has looked at the site as a key property for their goal in establishing a proper downtown for their community.
The 10-year agreement is a lease-purchase agreement for the city to be able to develop for investors.
City administrator Mike Beazley said they will also collaborate with neighboring St. Charles Hospital to make sure whatever goes there will benefit everyone.
It’s a first step in this large scale economic development project for the city, and Beazley said the city will be taking in development proposal in the next few months to see what exactly investors would want to use the property for.
“We’re going to go out and seek proposals from developers to see what kind of energy we can bring here, what will work in this site. We’re not going to spend a lot of time master planning it, what we want to do is see what developers can bring to the table and then work with them to shape something that can work for Oregon,” said Beazley.
Beazley said the structures currently on the former Kmart property could be fully demolished by the end of the year.
