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Crestwood mall: Dierbergs asks for $17 million in tax incentives for $67 million redevelopment

The new Crestwood mall redevelopment plan was taken by courier to the members of the Crestwood TIF Commission Friday, giving the public both a price tag and concrete financing from a bank. Developer Dierbergs proposes a $67 million redevelopment of half the 46-acre site with $17 million in tax incentives, including $13.5 million in tax-increment financing and $3.5 million in a 1-percent Community Improvement District sales tax. Past developers of the site have struggled with financing, but First Bank which is owned by the Dierberg family wrote a letter to the city included in the plan that guarantees financing if the TIF is granted. Three would-be developers have come and gone since 2013, when the mall closed.

Normal Council Approves Key Elements of Rivian Expansion

The Normal Town Council met remotely on Monday, May 3, 2021. Just a month shy of sending its first mass-produced electric trucks off the production line, Rivian’s Twin City footprint is growing: On Monday, the Normal Town Council gave the manufacturing facility’s expansion an overwhelming thumbs up. At its virtual meeting, the council approved several Rivian-related items, each on a 6-0 vote. Mayor Chris Koos was absent. Topping the approval list was Normal annexing into town limits 380 acres of unincorporated McLean County property recently purchased by Rivian. The council then voted to rezone 320 acres of that land, which surrounds 419 N. Rivian Motorway, for manufacturing. The council also gave preliminary approval to upgrades planned for the company’s main Normal site at 100 N. Rivian Motorway.

Normal Council Approves Key Elements of Rivian Expansion

Normal Council Approves Key Elements of Rivian Expansion
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Normal Council Approves Key Elements of Rivian Expansion

Normal Council Approves Key Elements of Rivian Expansion
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Here s the latest plan for the old Crestwood Mall site

Updated: 1:51 PM CST December 22, 2020 ST. LOUIS COUNTY, Mo. A plot of land that housed a once-sprawling, popular mall won’t be sitting empty for much longer, according to a plan by Dierbergs Markets, McBride Homes and the City of Crestwood. The three made a joint announcement Tuesday regarding redeveloping the old Crestwood Mall site. The plan is to turn the 47 acres at Watson and Sappington roads into a mix of residential and business use. “This is the most exciting piece of ground in the Crestwood area,” said John F. Eilermann Jr., CEO and chairman of McBride Homes. The western part of the development will feature a 70,000 square foot Dierbergs grocery store, along with additional restaurants and retail businesses.

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