Paul McKee (developer)

Last updated

Paul McKee, Jr. is a St. Louis, Missouri-area property developer. McKee's property management and development company, M Property Services, formerly McEagle Properties, is based in O'Fallon, Missouri.

Contents

McKee's co-founded the construction firm Paric Corp. in 1979. He is a founding member of the board and former chairman of BJC HealthCare, the area's largest employer.

McKee was the primary organizer of a bipartisan trade mission to People's Republic of China to stimulate trade between that country and businesses in the region, with a particular focus on using the Lambert-St. Louis International Airport as a cargo stopover from China to South America. [1]

Major developments

NorthSide covers several wards and is broken into four development sections. NorthSideSTL.png
NorthSide covers several wards and is broken into four development sections.

St. Louis County

Some of McKee's major developments include WingHaven, a 1,200-acre (4.9 km2) mixed-use project that is the corporate home to Mastercard Operations Center in O'Fallon, NorthPark, a joint venture with Bob Clark's Clayco Realty Group including 5,000,000 square feet (460,000 m2) of planned commercial and industrial redevelopment in North St. Louis County that is the corporate home to Express Scripts, [2] and Hazelwood Commerce Center, a 151-acre (0.61 km2) industrial park in Hazelwood, Missouri. [3]

North City

McKee's planned NorthSide Regeneration Project in the Old North Saint Louis, JeffVanDerLou and Saint Louis Place neighborhoods was initially referred to as Blairmont, in reference to one of the shell companies used to acquire lots and buildings in the three neighborhoods. [4] McKee had initially denied involvement in the mass acquisition of properties until researcher Michael Allen traced ownership to McKee's disclosures in 2006. [5]

In May 2009 the redevelopment idea was publicly revealed as "Northside," a $8.1 billion proposal covering some 1,500 acres (6.1 km2) of the city. It would include four commercial centers totaling over 3,000,000 square feet (280,000 m2) of new retail and office space, 1,000,000 square feet of light industrial space, new homes, parks, and a trolley line.[ citation needed ] According to The St. Louis American, the plan countered the work of resident rehabbers, who self-financed restorations of historic homes. [6]

In 2018, NorthSide was subject to an FBI investigation for "paper only" transactions in which McKee was reimbursed in state tax credits for no money down real estate transactions. McKee had also obtained approximately $9 million in tax credits from a no money down deal with business partners Larry Chapman and Bob Clark in 2011 and 2012. [7]

NorthSide was intended to revitalize North St. Louis. However, according to St. Louis Public Radio, "Nearly a decade after Paul McKee sold St. Louis on a vision worth billions to rehab more than 150 properties on the city’s north side, roofs have caved, walls have crumbled and residents have lost patience — and hope." [8] In addition, the state of Missouri sued NorthSide Regeneration for tax credit fraud, alleging that NorthSide kept $4.5 million in tax credits for redevelopment projects despite not completing many of the purchases. The suit was settled in 2019. [9]

McKee asked the City of St. Louis for $409,917,496 in tax increment financing to get the project off the ground. [10] The project still remains un-started, and McKee holds the majority of property in the JeffVanderLou area, most of which are on the vacated list. [11] In 2024, the St. Louis Board of Aldermen described McKee as a 'bad actor' as they unanimously passed an eminent domain measure to seize vacant properties from negligent owners in North City. [12]

In September 2024, McKee agreed to repay a 2020 loan owed to the Carpenter's union that established a short-lived grocery store north of downtown. After missing the deadline, McKee plead the 5th when asked about available assets, as well as details related to the closed grocery store operations and former employees. [7]

McKee has been criticized for "demolition by neglect." A number of buildings on the northside would be protected under historic preservation measures, including a mansion previously owned by Mark Twain's relative, but have deteriorated beyond repair or burned down after demolition requests were denied. [13]

Homer G. Philips

McKee sought to open a three-bed urgent care near the new NGA property, appropriating the name "Homer G. Phillips" for the hospital. Homer G. Phillips Hospital was an active hospital in The Ville until it was closed down. [14] Long-time activists who worked and advocated for the hospital to remain open filed a federal lawsuit against McKee's use of the name. [15] McKee's new hospital is in an area outside The Ville and is not close to the size of the previous hospital.

In December 2024, the hospital announced temporary closure due to low blood supply and financial issues. [16]

National Geospatial-Intelligence Agency

The National Geospatial-Intelligence Agency (NGA) West Headquarters has committed to building a $1.7 billion campus on a 100-acre site within the city, though little information is yet available. [ citation needed ]

Personal life

McKee grew up in the suburb of Overland, Missouri and attended Chaminade College Preparatory School. He has a civil engineering degree from Washington University in St. Louis and is a registered professional engineer in Missouri, Indiana, Iowa and Illinois. He is married to Marguerite "Midge" McKee and the two have four children and 15 grandchildren. They live in the suburb of Chesterfield, Missouri.[ citation needed ] https://www.facebook.com/share/v/1BB4LQVbsk/

References

  1. ↑ Mueller, Angela (February 22, 2008). "Paul McKee Jr. lobbies to land Chinese airlines". St. Louis Business Journal. Archived from the original on August 31, 2010. Retrieved May 26, 2009.
  2. ↑ Logan (June 20, 2013). "Express Scripts to add 1500 Jobs". STL Today.
  3. ↑ Brown, Lisa R.; Christopher Tritto (January 4, 2008). "Kiel: Blues, McKees take the stage". St. Louis Business Journal. Archived from the original on October 25, 2012. Retrieved May 26, 2009.
  4. ↑ Logan, Tim (February 9, 2009). "Slay on St. Louis economy, incentives, Ballpark Village, Blairmont". St. Louis Post-Dispatch. Archived from the original on September 11, 2012. Retrieved May 26, 2009.
  5. ↑ McLaughlin, Kathleen (June 20, 2007). "Phantom of the Hood, Part 2". Riverfront Times. Retrieved March 20, 2025.
  6. ↑ Staff (January 13, 2011). "Evil, the North Side and Paul McKee Jr". St. Louis American. Retrieved March 20, 2025.
  7. 1 2 Barker, Jacob (March 12, 2025). "Union asks Paul McKee, 'Where's the money?' Developer pleads the Fifth ... 381 times". STLtoday.com. Retrieved March 12, 2025.
  8. ↑ Kae Petrin {November 30, 2018) Once promised for rehab, vacant buildings owned by developer Paul McKee now scar city’s north side St. Louis Public Radio
  9. ↑ Steph Kukuljan (June 5, 2019) Paul McKee's NorthSide Regeneration settles with state over tax credit fraud lawsuit St. Louis Business Journal
  10. ↑ Full text of TIF application at Archived June 7, 2011, at the Wayback Machine
  11. ↑ "STL Vacancy Explorer". www.stlvacancytools.com. Retrieved July 2, 2025.
  12. ↑ Schmid, Eric (February 17, 2024). "St. Louis board greenlights eminent domain use near NGA while protecting residents' homes". STLPR. Retrieved December 19, 2024.
  13. ↑ Huguelet, Austin (May 8, 2025). "St. Louis to demolish historic McKee-owned buildings near downtown". STLtoday.com. Retrieved May 8, 2025.
  14. ↑ "Homer G. Phillips Hospital: 'They were not going to be treated as second-class citizens'". February 22, 2017.
  15. ↑ "McKee faces federal lawsuit for use of Homer G. Phillips' name". July 14, 2022.
  16. ↑ Kuziez, Ulaa (December 19, 2024). "Homer G. Phillips Hospital temporarily closes, citing low blood supply and funding". STLPR. Retrieved December 19, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.