CHESTERFIELD, Mo. — The city of Chesterfield wants a consultant's help in determining whether to utilize tax districts for infrastructure that would support two massive projects: that of WildHorse Village and the Chesterfield Mall.
In issuing a request for qualifications, the city said a company would be paid less than $100,000 for the work, with a contract executed by Nov. 1. The developers of the projects are to fund the costs.
The rationale for the work, said City Administrator Mike Geisel, is that some $2 billion in investment is coming to 245 acres known as Chesterfield Village, located along the south side of Interstate 64, north of Missouri Route 340 and east of Burkhardt Place.
CRG, the St. Louis real estate development and investment arm of Chicago-based construction firm Clayco, is planning the $700 million mixed-use WildHorse, on about 80 acres. That project, including single-family homes, apartments, commercial and retail, was unveiled in 2019.
The Staenberg Group meanwhile, is planning a $1 billion overhaul of the Chesterfield Mall, at Interstate 64 and Clarkson Road, into a planned, mixed-use community known as Downtown Chesterfield, with "a network of streets with a focus on pedestrian priority that connect civic open space, parks and bike trails to the surrounding community."
"We as a city have taken the position that we would oppose any developer-created or developer-driven financing districts," Geisel said.
But ones controlled by the city could be used for road improvements or other infrastructure. "We want to be able to control it to maximize the public benefit," he said.
City documents say tools could include tax increment financing, urban redevelopment corporations, transportation development districts, community improvements districts, neighborhood improvement districts, and special business districts.
At WildHorse, Geisel said, streets and sewers are currently being put in place. Work on the entire project is likely to be completed within three to five years, he said.
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