ST. LOUIS —The foreclosure auction for developer Paul McKee’s troubled grocery store and gas station was canceled, for the second time, Friday.
The two properties were initially slated to be auctioned Aug. 6 on the steps of the 22nd Circuit Civil Court building in downtown St. Louis after the developer defaulted on debt payments on a $10 million loan from the Bank of Springfield.
But the August event was postponed 30 days. McKee had previously told the Post-Dispatch that he was “in serious discussion with the lender” to avoid foreclosure.
On Friday, loan trustee Douglas Dove said the auction was cancelled for now and that the bank is having “ongoing conversions” with McKee. Dove would not comment further.
McKee opened Zoom, a gas station and mini mart, and Greenleaf Market in 2019 as