Heer's Tower developer gets extension

The extension gives the Heer's Tower developer six more months - until Aug. 17 - to acquire the money needed to complete the $20 million demolition and renovation project at the downtown landmark. The agreement also includes a provision allowing the city to begin marketing the property if a deal is not complete by April 17.

A special meeting had to be called to vote on the issue because the existing agreement expires Feb. 17.

City Manager Tom Finnie said an extension was warranted because Prost continues to make progress, both in financing and in interior and exterior demolition work. Great Southern Bank is providing interim financing for the work currently going on at the site.

All four of the upper floors of the building, which are being redeveloped as residential condominiums, were spoken for in September, and both the city and state will house offices in the bottom floors of the facility.