By ALAN J. ORTBALS
Pin Oak Plaza, a 95-acre, mixed-use development at the southwest corner of the Interstate 55 and Highway 143 interchange in Edwardsville will soon be getting underway, according to Sean Goding, president of Pangea Development Co.
Pangea owns the site and has secured a master developer for the project. It will be a joint partnership between C.W. Byron Properties, L.L.C. and Plocher Construction Co., which will own, manage and perform the site development work.
Construction is scheduled to begin in the summer.
As currently planned, Pin Oak Plaza will combine a light industrial and logistics business park component with a mixed-use commercial frontage plaza that will include a hotel, one or more restaurants and related amenities.
The development will contain a dedicated entry off Illinois Route 143, tree-lined streets, a 2-acre lake and green space buffers. Pin Oak Plaza adds to the ongoing development of the Interstate 55 Edwardsville, Glen Carbon and Troy Corridor and is expected to be a major facilitator of new commercial business on the east side of the city. In addition, the development will result in new infrastructure improvements to the I-55/Illinois 143 interchange.
It will also serve as the primary connector from Interstate 55 to the new planned Plummer Family Sports Park, a 78-acre state-of-the-art sports park that will be located adjacent to Pin Oak Plaza and include multiple soccer, baseball and softball fields.
Goding said that Pangea will be selling the property to Pin Oak Plaza, LLC., the development entity formed by Byron and Plocher for the project. Under the agreement the LLC will purchase 25 acres in the first phase and have an option to purchase the remaining 70 acres. Goding said he expects to close on the sale in the next several months after which time ground will be broken on the initial element. The developers have an anchor tenant for the first phase that cannot yet be identified due to a confidentiality agreement, he said.
“Pin Oak Plaza is a good example of a project that balances the city of Edwardsville’s vision and goals contained in the I-55 Corridor Plan as well as the evolving needs of commercial end users by providing a centrally located site with attractive economic incentives, a high traffic count and ready access to multiple forms of intermodal transport” said Goding. “One of the primary development goals is to help the city continue to develop its role as a corporate relocation destination while creating interstate travel-related amenities and new jobs, all while highlighting the role of Southern Illinois as the logistics and transport center of our nation.”
“We look forward to working with Plocher Construction Inc. and attorney Christopher W. Byron from the Edwardsville law firm of Byron Carlson Petri & Kalb, LLC. Mr. Byron has extensive experience in assisting clients in real estate development ventures. Additionally, Scott Plocher, president of Plocher Construction Inc. is the president of one of the areas fastest-growing regional construction companies that focuses on industrial, commercial, and utility construction,” said Goding.
Pangea Development, LLC was formed in 2005 as a land investment, development and management company specializing in the development of ecologically sensitive and LEED certified commercial and residential real estate projects. The company currently has offices in Mascoutah and in Hazelwood, Mo.
Goding said all utilities are located in the northeast corner of the property making it primed for development. They have been discussing the extension of the enterprise zone that encompasses Edwardsville Corporate Center, home to Scott Credit Union and Hortica and future home of the Prairie Farms Dairy headquarters with city and county officials and feel confident that will happen.
“We’ve been really blessed to work with the city of Edwardsville, Madison County, and the state at all levels,” Goding said. “Edwardsville’s a great place to be. It’s a good site, and we’re looking forward to seeing a lot of jobs created out there. That’s really a pivotal part of this — the amount of jobs that are going to be created.”