CHESTERFIELD, Mo. — Developer Jeff Tegethoff has secured 80 acres in Chesterfield with plans for a major, half-billion-dollar new development.
His company, Tegethoff Development (formerly known as Pearl Cos.), will serve as master developer of the site at Interstate 64 and Chesterfield Parkway West. He plans to divide the 80 acres into nine parcels for Class A office space, retail anchored by a grocery store, and luxury housing that could include townhomes and apartments for lease and condominiums for sale. A lake located at the site will remain a prominent feature of the development, estimated to be worth $500 million once fully built out, he said.
The COVID-19 pandemic has not impacted his plans and said he could begin site work this fall. A site development plan was submitted to the city of Chesterfield March 11.
"We're going to be very adamant about the quality of this development. All uses for the site will be looking through that (luxury) lens," Tegethoff told the Business Journal. "This is the ideal site, the premier site in all of St. Louis County and possibly the entire Midwest."
Class A, build-to-suit office space is planned for the seven acres at the intersection of Wild Horse Creek Road and Chesterfield Parkway West, mirroring other major office development along I-64 such as Reinsurance Group of America, Delmar Gardens and Bunge, said Newmark Grubb Zimmer's Kevin McLaughlin, whose firm Tegethoff has tapped to market the office component of the project.
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