The Crestwood Board of Aldermen adopted an ordinance creating an Economic Development Commission (EDC) in November 2004. The purpose of an Economic Development Commission is to guide and assist with the development, promotion and implementation of strategies in order to identify and achieve the City’s economic development goals.
In addition to drawing on valuable local expertise, an EDC can help foster more positive interactions with the Crestwood business community. The EDC will consist of seven (7) members appointed by the Mayor with the approval of the Board of Aldermen. Members shall be residents of the City of Crestwood or owners, managers or employees of Crestwood businesses or owners of real property located in the City.
The EDC will provide a forum for building consensus on the economic issues facing Crestwood and the means for addressing them; facilitate development of the City’s vision as to the type of local economy the City needs, desires and can support; formulate, develop and implement economic development strategies for the City to achieve its economic goals; and advise and make recommendations to the Mayor, Board of Aldermen and staff on matters relating to the City’s economic goals and strategies.
Goals
The City of Crestwood is comprised of approximately 3.57 square miles. The City is fully built out. The City’s goals are to aggressively encourage more retail uses in its central business district and to capitalize on its low commercial tax burden and its existing status as a major retail hub for near-southwest St. Louis County, Missouri.
- Improve the quality of life for residents through enhanced shopping opportunities, alternative housing options, job creation, and increased local tax revenues as a result of expanding the community’s economic base.
- Provide and maintain an attractive community that creates a positive public image and encourages individuals, families, and businesses to locate and invest in the community.
- Maintain the diversity of land uses within the City while encouraging redevelopment that meets future needs of the community and builds upon existing retail and commercial uses.
- Develop “anchor” projects that encourage retail, commercial, and related mixed uses – including residential units, which will support the existing business and residential areas of the City.
Strategy
Crestwood Economic Development Strategy
Crestwood Economic Development Strategy – Implementation Section
Development
Crestwood is host to a number of commercial and industrial vacancies which provide developers and business owners with a great opportunity to establish themselves in a desirable community. With 12,000 residents and a median household income of $54,000, Crestwood is a great place to set up shop.
Located within the southwestern portion of St. Louis County, just east of the interchange of Interstates I-44 and I-270, Crestwood is easily accessible from any direction. The Gateway Arch, Lambert International Airport and downtown St. Louis are all within 30 minutes of Crestwood. At $0.5010 per $100 assessed valuation, Crestwood maintains one of the lowest commercial property tax rates in the St. Louis area, ranks among the best municipal services in St. Louis County and features one of the best public school systems in Missouri (Lindbergh School District). The City of Crestwood encourages economic development and has approved developments utilizing tools such as TIF, CID and TDD. Watson Road is the commercial corridor within the City of Crestwood and currently contains retailers such as Kohl’s, Sears, Schnucks, Gordmans, Shop ‘n Save and OfficeMax. Crestwood Court, recently purchased by Centrum Properties, is a 49 acre site with 1.1 million square footage of retail space that is currently in the design phase of redevelopment. Crestwood Court features the award winning innovative Artspace.
