The site of the former Crestwood Mall is a site of frustration and worry for some because of a lack of retailers signing up to develop on the site.
The mall was leveled in 2016 and a combined residential and retail project planned for the site seems stalled, with no commitments on what will be built.
“I will concede this is a tough environment to develop in. However, they’re (the developer) the ones who made the commitment to do so,” said John O’Fallon Bell, a Crestwood resident.
Chicago-based developer Urban Street says it is negotiating with several potential clients for the site along Watson Road that was once a prime source of tax revenue for Crestwood.
“We’re meeting regularly with the developer getting communications from them on how things are progressing,” said Crestwood City Administrator Kris Simpson. “They’ve experimented with a couple of different site-development plans and they’re trying to find a deal that works, and the city is patiently waiting. We’re not looking to rush this.”
Simpson says the city has not spent money on the project, offering only tax incentives.
When the deal with the developer was reached, Crestwood set a three-year clock on finishing the project. Two years are still remaining.
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