Simon Buys in on Chesterfield Outlets

 Simon Property Group, Inc., , Woodmont Outlets and EWB Development LLC announced that they have signed a Letter of Intent to create a joint venture agreement for the development, construction, leasing and management of St. Louis Premium Outlets®, a new upscale outlet center in Chesterfield. Simon Property Group developed the failed St. Louis Center downtown and owns the St. Louis Mills Mall in Hazelwood.

Simon will own a 60 percent share of the project.

The new outlet center, which was announced in October as Spirit of St. Louis Outlets, will be comprised of 55 acres and will anchor Chesterfield Blue Valley, a mixed-use development to include office space, hotel, restaurant and entertainment venues. Located on the south side of I-64/US Highway 40 east of the Daniel Boone Bridge, the center will serve area residents and visitors. A first phase of approximately 350,000 square feet is projected to open Fall 2013. The project has ample room for future expansion.

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