In 1976, Chesterfield Mall first opened in West County. It would become the No. 1 mall in the St. Louis area, featuring more than 200 retailers for shoppers.
Decades later, many of the stores have closed.
The once-popular mall struggled and became a bit of a dinosaur.
However, now Tim Lowe and his Staenberg Group team are ready to build what they're calling "a vibrant, suburban city center" on the 80 acres just off Highway 40 and Clarkson Road.
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"I am excited. This is a once in a lifetime opportunity to create something really unique in the city of St. Louis that we don't have today," Lowe told 5 On Your Side Monday.
The new owners plan to tear down most of Chesterfield Mall and give it a multi-million dollar makeover. The redevelopment calls for new condos, a theater, a supermarket, a fitness center and much more to be built at the site.
"We're gonna start over and we're gonna create a street grid and we're gonna create pocket parks in the middle of it and we're gonna create office buildings, residential buildings and bike paths," Lowe said. "It's a complete transformation of the existing property, something completely different. It won't be a mall anymore. Everything is supposed to be very dense and urban."
TSG plans to work with its partners, Macy's and Dillards, in the proposed development plan.
"I think it's something that we really need out here in Chesterfield and I'm looking forward to it," said Courtney Colaneri of Ellisville.
"My excitement would be more of the job creation and so as long as it's not going to be a white elephant, it's a good idea," said Isaac Appiah of Chesterfield.
TSG says it will spend the next two years mapping out its final plans.
The company promises its project will become a reality.
"In four to five years something will open here on this property," said Tim Lowe.