CRESTWOOD, Mo. (KMOV.com) - The developer for the old Crestwood Mall site provided an update Tuesday night on the plan to redevelop the 48-acre lot.
Kent Evans with Walpert Properties told the Crestwood Board of Aldermen the cost for the project has tripled from $100 million to $300 million, though the revised plan is still similar to the renderings he released in October 2018. It will still include restaurants, shops, apartments, condos, offices, and a trail.
The mall was demolished in 2013 and the property has sat vacant even since, although dirt is being moved around. Evans says while it doesn't look like much progress has been made, there has been a lot of behind-the-scenes work done in the last year.
Evans says he spent a lot of time researching what the community would like to see in the space, which will be called Crestwood City Center. Many nearby residents tell News 4 they are frustrated the project is taking so long.
"I understand there may be some frustration but it does take a certain amount of time to run through the process and that's… there's nothing you can do about it. We're frustrated as well. We would love to start building tomorrow," said Evans.
The Crestwood City Adminstrator, Kris Simpson, says the Board of Aldermen was pleased with Tuesday night's update on the project. He believes this will be a game-changer for Crestwood.
News 4 asked Simpson if the additional cost for the project could fall on the taxpayers. Simpson says based on conversations with the developer, he doesn't think so.
"What they have indicated to us is that it's likely that most of the incentivization for this project would come from user-funded incentives, so an incremental sales tax that you would only pay if you shopped there," said Simpson.
Evans plans to present the revised plan to the City of Crestwood by the end of this year. He hopes to break ground in 2020, but says it's too early to know how long construction will take.
Evans tells News 4 he is already accepting names of people who are interested in living at the Crestwood City Center, though he hasn't said price ranges. If you'd like to add your name to the list you can email: firstname.lastname@example.org.