Officials plan to redevelop vacant Northwest Plaza - KMOV.com

Officials plan to redevelop vacant Northwest Plaza

ST. ANN, Mo. (KMOV) -- Big box stores, restaurants, and office space represent some of the key features of a plan to re-develop Northwest Plaza, a now vacant property that at one time was the world's largest shopping mall.

St. Ann Mayor Michael Corcoran said the city wants to use $33 million in tax increment financing (TIF) to make the project happen.  A developer has expressed interest in the $106 proposal, Corcoran said. Corcoran said a national big box developer, to be named at a later date, as also shown interest.

Built in the 1960s, Northwest Plaza was a premiere shopping destination. It attracted shoppers from all over the world. Its stores, restaurants and arcade drew people of all ages. But several factors, including crime and the creation of other shopping malls led to the Plaza's demise.

Along with the demise came a loss in revenue for the city of St. Ann. Corcoran said in 2007, the mall generated $70-80 million. Revenue is now less than $500,000, he said.

Sears and Macy's were the last stores to occupy the mall. Both stores left in 2010.

The days of the shopping mall are over, Corcoran said. He said big box stores make sense in the location, which is less than a mile from Lambert St. Louis International Airport. He said the Plaza would likely be renamed. "Lambert's Landing" is a possibility.

The plan calls for tearing down most of the property.

If the TIF is approved, a ground breaking for the multi-phase development could begin this fall.

Powered by Frankly