Chesterfield Blue Valley (“CBV”) is a 137-acre planned, mixed use development in St. Louis County, City of Chesterfield, Missouri, fronting on Olive Street Road and I-64/Hwy 40-the spine of the St. Louis SMSA. Chesterfield Blue Valley is in the path of major growth of the metropolitan area of 2.85 million people. The site has superior visibility and access from I-64. The project is zoned for 1,400,000 square feet of commercial and retail development. Soils study, environmental survey, traffic study, zoning ordinance and all other due diligence are complete and available for review. The total site is shovel ready pending user plan approval.
All electric, water, sewer and community utilities are available from Olive Street Road, Outlet Boulevard and Premium Way and will be extended to the property lines of all parcels. Earthwork, fill import and offsite road construction was completed in August, 2013.
The reconstruction and widening in 2013 of Olive Street Road to five lanes and a new intersection at Olive Street Road and Chesterfield Airport Road with dual left turn lanes and free flow right turns provide superb access.
A 50-acre parcel of prime land zoned Planned Commercial in the heart of the total project was sold to a joint venture of Premium Outlets|Simon and Woodmont Development (SLPO) on September 12, 2012. Premium Outlets is the largest retail developer and owner of outlet malls in the country. Phase I of the 463,623 square foot outlet center with 2,210 contiguous parking spaces opened August 22, 2013. Phase II of 79,000 s.f. is being processed for approval.
Studies indicate that as many as 5 million people will visit the site each year, with over 85% of visitors visiting the site from distances of greater than 15 miles. Sales are projected to exceed $160,000,000 in calendar 2015.
Other retail users have acquired lots and are in various stages of construction: Burlington will open a 55,000 s.f. store in September, 2015; Gander Mountain will open a 60,000 s.f. store in November, 2015; Cavender’s Boot City will open a 20,000 s.f. store in November, 2015; and a BP convenience store and Subway will open a combined 7,500 s.f. in November, 2015.
CBV is selling the remaining 55.6 acres (net of road improvements) surrounding the outlet mall. Customized, prime parcels will be sold to entertainment, service, restaurant, hotel and office users.