ST. LOUIS – The vacant Crestwood Mall site at Watson Road and Sappington Road has plans for a new development. The Post-Dispatch reported that plans were made at Thursday night’s Crestwood Tax Increment Financing (TIF) Commission meeting.
The plan includes a Dierbergs grocery store along with an 81 home subdivision. The Post-Dispatch reported that developers are still finalizing details of the proposal that will seek taxpayer assistance including a TIF.
In general, TIFs use future taxes that will be generated from a development to help finance the costs of the project.
The details of the proposal are expected to be submitted to Crestwood city officials in late May, according to the Post-Dispatch. The Crestwood TIF Commission plans to review that proposal at a public meeting on May 27. Then the Crestwood TIF Commission has scheduled a public hearing on this project for June 17.
Since this project was originally unveiled in December, Dierbergs has not determined how much TIF assistance it will seek from the City of Crestwood.
The mall closed in 2013 and was demolished in 2016. However, some underground concrete and other structures are still in place.