By 
The Staenberg Group, headquartered in St. Louis, announced today that it has completed the purchase of Chesterfield Mall.
This transaction follows TSG’s previous acquisition of the Sears building at the mall in April 2018, and positions the company to control and lead the impending development.
“This is the start of downtown Chesterfield, a high-end, urban, mixed-use development that includes multi-family residential, corporate office, upscale retail and restaurants, a theater, boutique fitness, supermarket and pocket parks,” said Tim Lowe, vice president of leasing and development for TSG. “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 for this type of unique redevelopment.”
As the new owner, TSG plans to work with Macy’s and Dillard’s regarding their interest in participating in the proposed development program.
“Endeavors of this magnitude take shape very methodically, and the process typically requires a number of years to complete,” Lowe added. “The initial phase will include re-zoning, entitlements, financing, master planning and design.”
TSG has a strong track record of successful developments within the city of Chesterfield, and the company said it understands the significance of the Chesterfield Mall property to the city and community.
Comments