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Crestwood Court Redevelopment Hits Snag

The majority of aldermen voted against the entertainment-focused proposal by Centrum Properties to revive the mall space along Watson Road.

The majority of Crestwood aldermen voted Tuesday night against the latest submission by Crestwood Court's owners, putting a temporary halt to action on the mall's redevelopment. 

Last week residents had the chance to hear a more detailed presentation for the proposed District at Crestwood, an entertainment-focused vision for the 48-acre space on Watson Road. Centrum was the only firm to submit a redevelopment proposal to the city.

The two-phase project would cost approximately $102 million, Centrum officials said, with almost $27 million in economic assistance.

A motion to continue the redevelopment process with Centrum's pitch was supported by aldermen Mimi Duncan, John Foote, and Darryl Wallach, but knocked down by the majority.

However, aldermen have not issued a new request for proposals at this time. Mayor Jeff Schlink suggested the board keep a dialogue open with Centrum.

"I think it would be in our best interest to wait and see what the current owners of the mall, the one and only company that submitted an RFP for proposal, to see if we can continue to work with them, partner with them, because I think odds-wise.... that they'd probably be the easiest ones to work with," he said.

Other coverage of the Board of Aldermen's decision:

 

Related Patch articles:

  • Developers Promise a “New Kind of Mall” for Crestwood
  • Latest Crestwood Court Proposal Keeps Entertainment Focus
  • Crestwood Court Owners Propose Possible TIF Funding for Redevelopment
  • Board of Aldermen 'Underwhelmed' With Centrum's Crestwood Court Plans
Karlie Baker October 10, 2012 at 02:50 PM
Well Stephen, unfortunately I can only be in one place at once, and that place from 7-9:30 yesterday was the Sunset Hills board of aldermen meeting. I plan to work on some follow-up over the next couple days regarding Crestwood Court, but for this morning, sorry, this is it. There were other reporters at the Crestwood meeting, and I'll also provide updates when I see those stories posted.
Reasonable Person October 10, 2012 at 03:13 PM
To call it a "snag" is an understatement. By all accounts, it's done. The vote was 5 to 3 with Duncan, Wallach, Foote voting for it. The deciding factors appear to have been oppostion to TIF money (Lindbergh spoke out against it) and a lack of committment (no leases) by any stores and restaurants.
Stephen D October 10, 2012 at 03:18 PM
Thanks for the info, RP. I suppose having some commitments from lessors does count for something here. Apparently this is going to be a dead zone for some time to come. Maybe just bulldoze the thing entirely and rebuild the Coral Court and Ronnies Drive In.
Michele T. Smith October 10, 2012 at 04:32 PM
Having attended the recent Town Hall meeting, we were told that the Centrum proposal would be reviewed and thoroughly vetted by the recently contracted Crestwood consultant. I would like to know more about the results of the consultants' findings. There must have been something glaringly negative, aside from the fact that no lessee has committed to moving into the space and that the total TIF (Phases 1 & 2) would be in the neighborhood of $49MM. That being said, I was still hopeful that a reasonable deal could have been reached.
earl kliethermes October 30, 2012 at 07:28 AM
Good going, people. This spot has been something very special for 55 years. No sense in destroying it to make a bigger mess.

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