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Crestwood mall to become open-air lifestyle center
Crestwood Plaza will be at least partially demolished and transformed into an open air lifestyle center, according to one of its new owners, Chicago-based Centrum Properties.
Centrum along with New York investment advisor Angelo, Gordon & Co purchased the 48-acre mall from Australian shopping-mall giant Westfield Group for an undisclosed sum. Westfield bought the mall, built in 1957, for $106.4 million in 1998.
The deal, reported first in the Post-Dispatch by columnist Joe Whittington two months ago, closed on March 26. The mall has been temporarily renamed Crestwood Court.
'It had not been aggressively managed for years,' said Sol Barket, Centrum's managing partner of retail development. 'We saw it as a great opportunity to create an open air lifestyle center.'
Crestwood Plaza will be at least partially demolished and transformed into an open air lifestyle center, according to one of its new owners, Chicago-based Centrum Properties.
Centrum along with New York investment advisor Angelo, Gordon & Co purchased the 48-acre mall from Australian shopping-mall giant Westfield Group for an undisclosed sum. Westfield bought the mall, built in 1957, for $106.4 million in 1998.
The deal, reported first in the Post-Dispatch by columnist Joe Whittington two months ago, closed on March 26. The mall has been temporarily renamed Crestwood Court.
'It had not been aggressively managed for years,' said Sol Barket, Centrum's managing partner of retail development. 'We saw it as a great opportunity to create an open air lifestyle center.'
5 Comments:
Still think Kevin Smith should have filmed his latest movie in St. Louis. We had the perfect mall to film in... he wouldn't have had to pay to make it a closed set-- the mall is practically deserted, even though it's still open.
But I'm glad something's finally happening with that place. Maybe I can get in on the interior design. I'll have my degree before they even break ground. lol!
What the hell is an "open air lifestyle center"?
Click and read.
I think it'd be cool if they brought back the water fountain in front of Dillards.
Life Style Center = getting snowed on trying to buy Xmas gifts.
The local Kent Station would qualify as a "Life Style Center". THis means you get rained on going from the parking structure to the movie theater.
Personally, I would rather have a roof over my head at all times. "Open Air" has many disadvantages.
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