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Chesterfield Valley Outlet Malls Featured on St. Louis Public Radio

A recent St. Louis Public Radio story calls the Chesterfield Valley, a “retail mecca.”

Two new outlets in the Chesterfield Valley have begun calling attention from St. Louis media to the area.

Premium Outlets, and Prestige Outlets, at the Boones Crossing exit from Highway 40/64, are the subject of a story by St. Louis Public Radio, which explores the history of the Valley since the flood of 1993.

Michael Staenberg, CEO of THF Realty, which purchased much of the land in the Valley shortly after the flood, is quoted by St. Louis Public Radio describing how smart of a decision it was for his company to buy the land at the time when the flood brought property values down.

“The flood was the best thing that had ever happened to me. I’m sorry it hurt people, but it also brought recognition of what the Valley needed,” Staenberg said in the story.

Before the flood, according to the story, the Chesterfield Valley had only 500 jobs, compared to today’s 15,000 jobs.

Bill Taubman, of Taubman Prestige Outlets Chesterfield,  that he expects construction to finish in October of 2013.

Taubman said he estimates his shopping center will bring 1,200 retail jobs with and $14 million in tax revenue.

Simon Property Group, Inc., the company in charge of the Premium Outlets development, also announced their mall should be finished sometime in the fall of 2013.

Stephen Coslik, Chairman and CEO of Woodmont Outlets—which is partnering with Simon Property Group to build Premium Outlets— as well as over 1,000 local construction jobs over the next year.

You can read or listen to the full St. Louis Public Radio story by clicking here.

Cheri Rotello August 27, 2012 at 12:25 PM
And what is this going to do to our Big Mall and the valley stores. Are we going to have a row of empty stores where the Valley stores once were. I do not think this has been a very well thought out business venture. I do not think the Mayor and the Board have taken control over this project but have just allowed it to happen. If I were a business in the valley or mall, I would be very upset over this development. Those business have supported the city and surrounding in good times and bad and this is the Thank You they get. Not good leadership or business. Cheri

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