New Partnership In Development Of Mall Property
Plans for "Crestwood City Center" expected to be unveiled this fall
September 14, 2018
While new grading work on dirt mounds at the former Crestwood Plaza site has started, so has more solid direction from the local company charged with the property's commercial development by its Chicago owners UrbanStreet Group LLC.
Kent Evans, director of development for St. Louis-based Walpert Properties Inc., said Walpert is planning to unveil its current mixed-use plans for the site to real estate brokers in early October. The goal is to give realtors a firm plan around which to rally.
"An army of well-qualified professionals has been working on this project for months, specifically regarding how to build, and what will work, on its unique slopes," Evans said.
Crestwood City Administrator Kris Simpson said Walpert Properties has the former mall site under contract from UrbanStreet, with the sale contingent on Walpert staffers being able to secure tenants for the project so construction can proceed.
Simpson said the project is now called "Crestwood City Center."
"The city of Crestwood maintains its focus on guiding the redevelopment of the former Crestwood Mall into something that's positive for the community, and welcomes this new local partnership with Walpert Properties," said Simpson.
Walpert Properties was founded in 1989 by Robert Walpert. It's a full-service commercial developer, broker and asset management real estate company that, in 2010, merged with another St. Louis company, Principal Commercial Real Estate. One prime example of Walpert Properties' prior projects is the WingHaven community in O'Fallon, Missouri.
Evans, a graduate of Lindbergh Schools and Webster University, said he definitely understands everyone's interest in turning the former mall's 47 acres into something beneficial that again provides pride to Crestwood and the region.
Regarding recent grading of the site located along Watson and Sappington roads, some trees appeared to have been taken down on the property. The smaller rubble mound to the north and west of what has been locally nicknamed as "Mount Crestwood" was flattened, making it an estimated 25 feet shorter.