Crestwood Mall Redevelopment Features Apartments, Retail
Date Posted: April 30, 2015
Posted In: News, Projects,
From nextSTL: It’s amazing the effort it requires to remake a retail monolith. The Crestwood Plaza mall has been vacant now for several years. Plans have come and gone. The city doesn’t want something too bland, or too urban. It’s been looking for something just right and it appears that Crestwood thinks they’ve found it.
Site owner and developer UrbanStreet has submitted a low-density, mixed-use redevelopment plan to the city, which it released today. Amazingly, UrbanStreet paid just $3.6M dollars for the 47-acre site, which had sold for $17.5M in 2008, and was assessed at $28.7M in 2006.
The UrbanStreet plan shows low-density, mixed-used development. Four Redevelopment Project Areas (RPAs) show service retail, entertainment and destination retail, multi-family residential, and an adjacent community garden and green space.