CRESTWOOD, MO. (KMOX) - The company that was planning to lead the redevelopment of the old Crestwood Mall property is backing out.
Walpert Properties told the city it was because of the economic fall out caused by the COVID-19 pandemic. The mayor of Crestwood says he's disappointed and frustrated but will contact the property owner and discuss next steps.
On Tuesday, Crestwood voters approved a half-cent sales tax increase for capital improvements. The mayor posted on facebook that he heard from Walpert Properties at 6 p.m. Tuesday, polls closed at 7 p.m.
The city posted, "For what it's worth, there are signs of positive activity on Watson Road. HomeExpressions furniture occupied the entire former Office Depot space, Woodard Restoration is moving their headquarters to take up all of the vacant space next to Planet Fitness, and a small sushi/ice cream chain that is new to the STL area is going in right next to Schnucks. We have really been working hard, and this is such a disappointing setback."
Nearly three years after the demolition was finished, there's still nothing need on the 47-acre site at Watson and Sappington Roads.