CHESTERFIELD, Mo. — The new owners of Chesterfield Mall have big plans for its redevelopment.
The Staenberg Group, which is headquartered in St. Louis, completed the purchase of the mall last week, according to a news release. The purchase positions the company to "control and lead the impending development," according to a news release.
“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 The Staenberg Group.
“The entire development will be designed to create a vibrant, suburban city center where residents can live, work and play," Lowe said. "Chesterfield is the ideal location for this type of unique redevelopment.”
TSG plans to work with Macy’s and Dillard’s regarding their interest in the proposed development plan, according to the release.
Chesterfield Mall was built in 1976 and opened with more than 200 retailers. After Northwest Plaza closed, it was the largest mall in the area.
Once a popular shopping and entertainment destination, Chesterfield Mall is nearly empty. According to this website, Chesterfield Mall currently has 32 stores. It lists 140 stores and restaurants as "outdated" stores that are no longer in the mall.
Its anchor store, Macy's, is still open. However, other department stores have closed, including JCPenney and Sears. Dillard's closed permanently after a water main break in 2016.
Many popular tenants have left, including American Girl Doll, Pottery Barn and Williams-Sonoma.
During the 2018 Christmas season, the Santa at Chesterfield Mall was called "lonely" when a photo of him sitting alone in an empty mall circulated on social media.
A new development of this scale will be "transformational and will require strong support, partnership and assistance from the City of Chesterfield," according to the release.
“Endeavors of this magnitude take shape very methodically, and the process typically requires a number of years to complete,” Lowe continued. “The initial phase will include re-zoning, entitlements, financing, master planning and design.”
