Dierbergs, McBride seek subsidies for Crestwood Mall development
Dierbergs Markets and McBride Homes will seek $17 million in subsidies for a more than $67 million redevelopment of the former Crestwood Mall site.
Stay updated with breaking news from Walpert Properties. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Dierbergs Markets and McBride Homes will seek $17 million in subsidies for a more than $67 million redevelopment of the former Crestwood Mall site.
The new Crestwood mall redevelopment plan was taken by courier to the members of the Crestwood TIF Commission Friday, giving the public both a price tag and concrete financing from a bank. Developer Dierbergs proposes a $67 million redevelopment of half the 46-acre site with $17 million in tax incentives, including $13.5 million in tax-increment financing and $3.5 million in a 1-percent Community Improvement District sales tax. Past developers of the site have struggled with financing, but First Bank — which is owned by the Dierberg family — wrote a letter to the city included in the plan...
The Crestwood TIF Commission has delayed its second meeting following an organizational meeting Feb. 4 until Thursday, April 22. The panel will examine a request for tax-increment financing from grocery store Dierbergs, which announced Dec. 22 that it was partnering with McBride Homes to redevelop the 47-acre former Crestwood Plaza mall property at Watson and Sappington roads. The companies have the site under contract from owner UrbanStreet Group after months of negotiations.
The Crestwood TIF Commission that will be examining whether to grant tax incentives for the redevelopment of the former Crestwood mall site proposed by Dierbergs and McBride Homes met for the first time this month, with a public hearing and possible decision expected by May. The two developers did not give any specifics or dollar amounts on the tax-increment financing requests at the Feb. 4 meeting, but Dierbergs Director of Real Estate Brent Beumer, a Sunset Hills resident, gave a conceptual overview of the project and confirmed, as first reported by The Call, that the developers are not see...
It’s never been more obvious what the top story of a year was, as 2020 will always be remembered as the year a global pandemic stopped life as we know it everywhere. But South County also made national news with a very inspiring teacher. 1. Coronavirus. The COVID-19 pandemic was 10 separate stories in and of itself, as every event that would take place in a normal year was canceled or substantially changed. Life was not the same in 2020 as it was in 2019 — and hopefully will be by this time next year. Masks became a political issue, public health took center stage, we worked from home, mo...