CRESTWOOD, MO (KTVI)- A new plan is in the works to redevelop the site of the Crestwood Mall. The mall closed its doors in 2013. Chicago developer, Urban Street Group, bought the property for just $3.6 million last April. Now, the developer wants to transform the site into a mixed use property, with shops, restaurants, a movie theater, and 225 apartments.
Developing this dead space sounds great but many Lindbergh School District staff, parents, and school board members are opposed. That`s because the developer wants $28 million in tax increment financing to help fund the project.
It would put tax revenue right into the hands of the developer, away from schools and the community.
Lindbergh is already overcrowded, with 250 new students enrolling per year.
If kids from these new apartments enroll, without any additional tax dollars, they won`t be able to educate them, without every student suffering.
All of these issues will come to a head tonight.
The developer is holding a meeting on Wednesday, July 8th from 4p.m. until 7p.m. at Whitecliff Park Community Center to gather public feedback on their proposal.