Amid a recently booming market for new industrial buildings, KP Development is looking to build a business park with warehouses, offices and hotels at the former Chrysler auto assembly site in Fenton.
The developers appear to be following a similar playbook for the former auto manufacturing site as Panattoni Development Co., which in recent years has turned the old Hazelwood Ford site into Aviator Business Park. Just like in that case, the proposed logistics-focused business park, which would add 2 million square feet of space, would rely on incentives from taxpayers to help accelerate the project.
KP is asking for $57 million in incentives to help finance the $222 million development of the former auto site. The St. Louis County TIF Commission is holding a public hearing to discuss the proposal at 6:30 p.m. Wednesday at Fenton City Hall. Local officials would be required to approve the incentives within three months.
The developers have said the site would be ready for occupancy next year and could eventually support 2,500 to 3,000 jobs, but won’t reach the 6,000 jobs that the Chrysler assembly plants once supported.
Read more: St. Louis Post-Dispatch