14 Sep 2014
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Crestwood Court Redevelopment Hits Snag

The majority of aldermen voted against the entertainment-focused proposal by Centrum Properties to revive the mall space along Watson Road.

Crestwood Court Redevelopment Hits Snag

The majority of Crestwood aldermen voted Tuesday night against the latest submission by Crestwood Court's owners, putting a temporary halt to action on the mall's redevelopment. 

Last week residents had the chance to hear a more detailed presentation for the proposed District at Crestwood, an entertainment-focused vision for the 48-acre space on Watson Road. Centrum was the only firm to submit a redevelopment proposal to the city.

The two-phase project would cost approximately $102 million, Centrum officials said, with almost $27 million in economic assistance.

A motion to continue the redevelopment process with Centrum's pitch was supported by aldermen Mimi Duncan, John Foote, and Darryl Wallach, but knocked down by the majority.

However, aldermen have not issued a new request for proposals at this time. Mayor Jeff Schlink suggested the board keep a dialogue open with Centrum.

"I think it would be in our best interest to wait and see what the current owners of the mall, the one and only company that submitted an RFP for proposal, to see if we can continue to work with them, partner with them, because I think odds-wise.... that they'd probably be the easiest ones to work with," he said.

Other coverage of the Board of Aldermen's decision:

 

Related Patch articles:

  • Developers Promise a “New Kind of Mall” for Crestwood
  • Latest Crestwood Court Proposal Keeps Entertainment Focus
  • Crestwood Court Owners Propose Possible TIF Funding for Redevelopment
  • Board of Aldermen 'Underwhelmed' With Centrum's Crestwood Court Plans

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