CHESTERFIELD, MO (KMOX) – A new 950,000 square feet, $250 million development is planned in the shadow of one of Chesterfield’s dueling outlet malls , by Simon and next to the Boone Bridge.
Dean Wolfe, who sold the property for the mall, kept an even bigger chunk of it for his development, dubbed “Chesterfield Blue Valley,” which he says will have restaurants, retail, entertainment venues and a hotel. He says he would like to make it mixed-use and include residential property but Chesterfield zoning won’t allow it.
“What we ought to be trying to accomplish is reduced cars driving, work closer to where you live, those sort of things that are environmentally friendly as opposed to trying to segregate things out,” Wolfe said.
When asked if the new development would only steal business from elsewhere in west St. Louis County, Wolfe said that isn’t the plan.
“We think that there is a lot of things that aren’t in [Chesterfield] Valley and we are talking to national tenants that aren’t in the market today,” Wolfe said.
Wolfe said the outlet mall expects to draw 3.5 million customers each year, many of those from outside the area. “So we would expect people from Hannibal, we would expect people from Cape Girardeau, certainly Columbia and Jeff[erson] City. They’re going to find their way here.” He said he will not pursue tax increment financing for the plan.