CHESTERFIELD, Mo. (KMOX)- Promising to create more than 25,000 jobs and generate $22 million in sales tax revenue, developers have announced plans for an $85 million dollar, 555,000 square foot outlet mall in the Chesterfield Valley. Spirit of St. Louis Outlets would sit on what is now a corn and bean field between I-64 and Spirit of St. Louis Airport.
It’s being developed by Woodmont Outlets of Fort Worth, Tx. and EWB Development LLC of Vermont.
Woodmont Chairman Steve Coslik says the mall would be unique to this area. “You have Chesterfield Mall. You have Chesterfield Commons. Both of those are full priced retail, or promotional priced retail. This is a different venue, this is outlet.”
EWB Development Partner Lisa Quier Wagner says the mall will fill a niche in the market, “It really is the premier brands representing themselves to the consumer and there isn’t that type of offering in this market at this point.”
The mall would offer 250 retail tenants, similar to those of other high-end outlet all developments, including Brooks Brothers, Banana Republic Factory Store and Calvin Klein.
Wagner says it will draw up to ten million shoppers a year from a 150-mile radius, “This is going to be marketed as a destination. So, it is for the local consumers but it is also intended to bring visitors from afar.”
Wagner says it is also situated far enough away from Chesterfield Commons and Chesterfield Mall, so that it will not siphon customers from other stores, “When people come to a destination they don’t go to the local mall, because everyone has a mall at home. They do seek out outlets. It is something different and every outlet center is so unique.” She says that with the additional traffic generated by the mall, it might even benefit neighboring shopping centers.
As for taking on such a project in the current economy, Coslik says now is the perfect time to open an outlet mall. “Outlets do well overall, but when the economy suffers the do great and right now outlets are on fire with consumers.”
Coslik says developers will not seek tax increment financing.
Developers plan to submit plans to city officials in December. Break ground next summer and open in the fall of 2013.
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