By Tim SchmidtRecord Managing EditorWright City officials have selected a real estate company to help sell the former Big Boy’s property.The board last Thursday chose to accept the proposal …
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By Tim SchmidtRecord Managing EditorWright City officials have selected a real estate company to help sell the former Big Boy’s property.The board last Thursday chose to accept the proposal submitted by Tom Shaw Realtors, based in Chesterfield. The listing agent will be Randy Lewis, a county resident.Marketing plans were also received from Phil Reid of Westbound Real Estate, Wright City, and Greg Schowe of United Country Real Estate, Columbia.Wright City aldermen had tabled selecting a real estate company at the previous board meeting on May 14. The deadline to submit proposals was May 1.A resolution finalizing the agreement with Tom Shaw Realtors is expected to be passed at the next board meeting on June 11, officials said.The city wants to sell or lease the 2.46-acre property, located at 132000 Veterans Memorial Parkway. As part of the proposal, firms were required to provide examples of commercial property and vacant land it has sold or leased in the past, a marketing plan and an estimated value of the property.The city paid $170,000 for the property in January 2011. The transaction followed years of frustration from officials and residents due to the deterioration of the former Big Boy’s restaurant building. The restaurant closed in 2005 and had been vacant. The city proceeded quickly to raze the structure and clean up the property.Officials initially planned to construct a new city hall and police department facility on the property. However, since the property is easily visible from Interstate 70, they agreed it’s best suited for a commercial venture that generates sales tax revenue.The city has now identified a vacant church facility on Westwoods Roads as a possible future site of city hall. The existing city hall facility would then be renovated and house the police department. A $1.5 million bond issue will be decided by voters Aug. 4 to finance the city hall proposal.Last year, the city sought but did not receive any redevelopment proposals for the former Big Boy’s property, an adjacent property that houses storage units and the former Rite Sole property, which is located at 399 W.N. 2nd St. Some ideas that officials wanted incorporated in the proposal was a combination of commercial uses to provide permanent jobs and spur economic activity, such as space for offices, retail, entertainment or restaurants.Tom Shaw Realtors