Crestwood, MO (KTRS) New life is being given to the old Crestwood Plaza Mall.
A groundbreaking ceremony was held Tuesday afternoon to celebrate the demolition and new development at the south county site. Crestwood Mayor Gregg Roby was among those in attendance.
“When I ran for this office, this was my primary goal and that was to make something happen at what was beginning to drag our community down….a property that had long been forget and abandoned and needed to be revitalized.” said Roby.
State Senator Scott Sifton calls this revitalization a top priority for the community. “Before I took office as the state senator for the city of Crestwood and the surrounding areas, this has been far and away the number one local development issue in my district, without question. I couldn’t even tell you what’s in second place relative to the importance of getting this done for Crestwood and all the communities in the area.”
The $104-million project will consist of commercial and retail development, including $25-million in tax increment financing or TIF. The structure which was built in 1957, was the first regional mall in the St. Louis area. It closed in 2013.
Urban Street Group of Chicago bought the property in 2014. City officials say they don’t have any retail tenants lined up at this point. The entire project is scheduled to be completed in 2019.