A proposed 1,000 acre Horizons business development in Riverside is slated for construction in May of 2005.
According to Riverside Mayor Betty Burch, approximately 750 acres of the site will be a mixed use project of retail sales, office complexes, commercial and light industrial, south of Hwy. 9.
“This is property that has never been able to have been built on because it is a flood plain,” said Burch. “Because the levee has gone in, now we are able to complete this development.”
While a price tag has not yet been named for the project, Burch estimates the infrastructure cost at $28-$30 million. To fund the cost of the project, the mayor said the city will use sales tax money, city funds, $5 million in federal funds secured by Senator Kit Bond, possible MoDOT funding, and consideration of establishing a TDD (Tax Development District).
The proposed project is estimated to reach full completion in 10 years.