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Thompson Thrift is a real estate development company proposing an apartment project on the east side of the former Sears property at 97th and Metcalf.

We received the following information from Thompson Thrift's representatives, and we're posting it here as promised in our recent email/postcard to Pinehurst residents..

The following is a high-level summary of the meeting held February 20, 2024.

 DEVELOPER

Thompson Thrift – established in 1986

Add construction of residential properties in 2008

Total of 79 Residential Communities with two in Missouri

• The Depot – Raymore, Missouri

• Avenue 64 – O’Fallon, Missouri

 Proposed Project

11.84 acres

Class A Project – Market Rate Rents

Approximately 300 units

4-story / 50’ in height to parapet

Surface parking and accessory parking structures

1 parking space per bedroom

Amenities will be internal to the buildings

No retail/commercial use – 100% residential

Committed to replacing wood fence along eastern property line

Committed to keeping existing tree canopy along eastern and southern property lines

 Discussion Topics:

Building Height

Setbacks

Parking

Lighting

Noise

Security

Market Study/Need for Apartments

Fencing/Landscaping

School Capacity – See attached letter from School District

Anticipated Rents – Rents will be market-rate.  We currently anticipate that the average rent will be $2,115, with an overall range of $1,400 to $2,950. 

Impact to Property Values

 Developer was asked to further consider the following:

1. Additional building setback from southern property line.  Response:  The minimum building setback from the property line is 10 feet per the City Code.  The Developer will work to provide more than minimum 10-feet setback.

2. To not only maintain existing trees along eastern and southern property line but to add more landscaping (similar to what Lifetime Fitness offered).  Response:  The landscape plan will propose to retain all existing viable trees within the east and south buffer areas/setbacks.  Our Landscape Architect will recommend planting additional trees to be compliant with the City of Overland’s landscaping requirements, with a focus on increasing the screening and buffering along the south and east where it makes sense.

3. Consider lighting impacts.  Response:  All site and building lighting will comply with code standards and will be shielded to ensure no light trespass onto adjacent properties.

4. Consider the location of trash dumpster and dog park.  Response:  Neither of these items will be located along the eastern property lane.    

 Process with City

Rezone property to RP-6

Anticipate filing plans with City in March 2024

Developer will hold another neighborhood meeting prior to the Planning Commission meeting

Planning Commission Public Hearing:  May 13, 2024

City Council meeting:  June 3, 2024

 Lasty, I have attached copes of the following:  (i) copy of the sign-in sheet (for those who chose to sign it); (ii) copy of the presentation slides ; and (iii) letter from the School District confirming there is sufficient capacity for additional students. 

 Please let us know if you have any questions or need any additional information at this time.

 Amy L. Grant | Senior Paralegal | Polsinelli PC

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