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.
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