Oct. 21--A condemnation begun during downtown's redevelopment rush in 2005 has been settled, and while the market is decidely cooler, the owners of Gigi's Wigs & Beauty Supplies are $1 million richer.

Chung Hoe Ku and Myong Suk Ku, the couple running Gigi's, will receive $990,000 from the city for the two buildings housing their business at 1219-21 Grand Blvd. They also are expected to get about $150,000 for relocation when they pull up stakes in December after 25 years at the location.

"It's OK," Chung Hoe Ku said when asked Monday about the settlement.

The property is close to the Sprint Center and Power & Light District, and the city acquisition effort began in May 2005 when both those big projects were getting under way. In those days, the hope was that most of the prime block where Gigi's is located would be ripe for redevelopment as a 320,000-square-foot office and retail project.

Applebee's International, Embarq and Great Plains Energy were among the prospects mentioned.

But that was then.

The headquarters of Applebee's and Embarq have left the Kansas City area, and Great Plains, the parent company of Kansas City Power & Light Co., has decided to lease space at One Kansas City Place.

An official at Copaken White & Blitt, which got the development rights to the site in late 2005, said that for the time being, Gigi's, along with a neighboring building at 1227 Grand that once housed Lil' Jake's Eat It An' Beat It, will be demolished and replaced by a parking lot.

"Nothing is imminent," said Jon Copaken, a principal at the firm.

The Gigi's windfall began several years ago with the Power & Light District.

Copaken White & Blitt owned properties needed for the seven-block entertainment district and agreed to transfer them to the city in return for properties on the block where Gigi's was located. The developer believed the site would be a great location for a corporate headquarters.

City officials offered the Ku family $340,000 for their property, and when the couple refused, began eminent domain proceedings in Jackson County Circuit Court. A judge quickly dismissed the condemnation effort, saying the city had no specific redevelopment plan for the site.

Four months later, the city approved the concept proposed by Copaken White & Blitt. It was back to the three-judge condemnation panel, this time with an offer of $650,000, according to Rhonda Smiley, the attorney representing the Ku family. The building owner countered with $1.2 million.

The final settlement was $990,000.