Redevelopment Underway At Deer Creek

Webster-Kirkwood Times and South County Times Article 2013

The horizon for the DeerCreekCenter in Maplewood looks a little brighter this year. The deteriorating shopping mall is getting a facelift and big-name retailers as new tenants.

Originally built in the 1970s with an addition added in the mid-1980s, the strip mall has been mostly vacant since 2001. The complex is currently undergoing a redevelopment initiative with several retailers signed-on to occupy the updated spaces.

The current construction to the exterior of the structure is expected to be complete in the next couple of weeks. The interior will take 90 to 120 days with the first new retail store anticipated to open in March of this year.

According to Summit Development Group, owner of the property, the redevelopment of Deer Creek Center will cost around $27 million in all. The new retail businesses are expected to generate approximately 135 full-time jobs and 265 part-time jobs.

“In the mid-county trade area it is very difficult for retailers to find available space at this time,” said Scott Reese, president of Summit Development Group. “We are thrilled about the tenant line-up and anxious for the spring openings.”

Deer Creek Center is approximately 215,000 square feet and the existing businesses, including a Dollar Tree, H & R Block, a state license office and Career Center will soon be sharing the mall with a few new tenants. The stores announced to soon open at the Center are:

  • Joann Fabric and Craft Store – scheduled to open in March.
  • Ross Dress For Less
  • Shoe Carnival
  • Marshalls
  • Buy Buy Baby

Last year the Maplewood City Council voted to move ahead with the Deer Creek Center redevelopment despite St. Louis County’s objection to the Tax Increment Finance plan. Tax Increment Finance (TIF) uses a portion of future tax revenue to help supplement the cost of the development project.

The Deer Creek Center TIF has an expected pay off of less than 15 years according to Maplewood City Manager Martin J. Corcoran.

“We have a quality set of tenants that want to locate in there. Most of them are new to this area,” said Corcoran. “It’s a way to take a vacant and decaying property and put it back in the market in a useful way for the mid-county area.”

Article Link:  http://www.websterkirkwoodtimes.com/Articles-News-i-2013-02-01-184888.114137-Redevelopment-Underway-At-Deer-Creek.html#ixzz2NTm42KVA

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