New owners complete purchase of Chesterfield Mall

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CHESTERFIELD Mo. – Big plans and even bigger construction is expected for Chesterfield.

According to a press release, The Staenberg Group which is headquartered in St. Louis, Mo has completed the purchase of Chesterfield Mall last week.

“This is the start of Downtown Chesterfield, the entire development will be designed to create a vibrant, suburban city center where residents can live, work and play. Chesterfield is the ideal location is for this type of unique redevelopment,” says Tim Lowe, vice president of leasing and development for TSG.

The new owners believe the proposed development will enhance the quality of life for the community and offer residents and visitors the chance to connect in a new way.

“Endeavors of this magnitude take shape very methodically, and the process typically requires a number of years to complete,” Lowe continues.  “The initial phase will include re-zoning, entitlements, financing, master planning, and design.”

TGS plans to work with Macy’s and Dillard’s regarding their interest in the proposed development plan, according to the release.

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