FENTON, Mo. (KMOX) – The former Fenton Chrysler plant site has been sold, and if all goes as planned, it will soon house the Fenton Logistics Park.
St. Louis-based KP Development has purchased the 295-acre site off Interstate 44 where it plans to build the logistics park.
KP, formerly Komen Properties, says the half-billion dollar investment will provide 2.5 million square feet for industrial, light manufacturing, distribution and offices.
President Terry Barnes says they hope the site will eventually house 2,500 jobs, most of them new to the region.
“We believe there’s people in the distribution-industrial sector that need to add St. Louis as a part of their overall real estate play and would love to be in this area,” he says.
The company says it is still working with Fenton, St. Louis County and state officials to secure tax incentives it says are required help to rehab the site.
It hopes to break ground early next year and move its first tenants in late next year, but that depends on the tax incentives and “clear signs of an improving economy.”
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
MORE LOCAL NEWS:
- Stolen Base at World Series Means Free Tacos at Taco Bell
- Election Director: County is as Prepared as Can Be For Nov. 8th
- Derailed Coal Train Knocks Out Power For Hundreds
- Infant Dies, 2 Other Children Badly Hurt in St. Louis Fire
- UFCW to Vote on Schnucks Contract Tonight
- STL Medical Society Pres. Sees Good & Bad with Affordable Care Act