CRG Launches Development at Wildhorse Village, New $500 Million, 80-Acre Mixed-Use Community in West Suburban St. Louis
Planned live/work/play community in Chesterfield, Missouri, which will include residential, office and retail, plus public waterfront and green space, completing $40 million of infrastructure work and sale of land parcel to Pier Property Group (PPG) for Q1 2022 apartment construction
ST. LOUIS – CRG, the national real estate development and investment firm, today announced the closing of its first sale at Wildhorse Village, a new 80-acre mixed-use urban community at the intersection of Chesterfield Parkway and Wild Horse Creek Road in Chesterfield, Mo., a suburb located 22 miles west of St. Louis. As the largest mixed-use development in Chesterfield, significant infrastructure improvements totaling approximately $40 million are underway and scheduled for completion this month. CRG has sold 4.9 acres of land in Wildhorse Village to St. Louis-based developer Pier Property Group (“PPG”) to build The Flats at Wildhorse Village, a four-story, 266-unit luxury apartment building at 350 Wildhorse Lake Blvd., beginning in Q1 2022.
When complete, Wildhorse Village will offer wide-ranging housing options, including 500 apartment units across two rental communities, 104 condominium residences, 72 townhomes, and 35 single-family residences, as well as nearly one million square feet of commercial office, retail and restaurant space. Along with publicly accessible green space with trails and waterfront amenities, residents, employees and visitors will also enjoy the community’s flagship amenity: a 15-acre lake at the village’s center, visible and accessible from various points throughout the development. The waterfront will be activated with a terraced plaza, a boardwalk with seating areas, an amphitheater and a boat house.
“Our vision for Wildhorse Village is to create a walkable, live/work/play community that reflects the best attributes of a dynamic urban center in a pastoral, waterfront setting,” said Jeff Tegethoff, CRG’s operating partner. “This includes attractive housing options to suit all lifestyles, state-of-the-art office buildings appealing to high-value employers, and retail, recreational and service offerings to meet the needs and desires of residents and visitors, all wrapped around a 15-acre lake with a year-round activated waterfront. This transformative, sustainable development will comprise only 1% of Chesterfield’s total land mass but will substantially increase property tax value and sales tax revenue for St. Louis County, while bringing additional investment, jobs and recreational amenities to Chesterfield.”
In partnership with CRG, Wildhorse Village was designed by Lamar Johnson Collaborative (LJC), a subsidiary of CRG’s parent company, Clayco, which is constructing the development’s infrastructure. Residential offerings will be developed by CRG or in partnership with other real estate development firms, while commercial offerings will be developed by CRG and constructed by Clayco.
Clayco began extensive infrastructure improvements on the Wildhorse Village site in early 2021, most of which are scheduled for completion this month. These include building 6.6 acres of roadways and 3.25 miles of sidewalks with lighting and landscaping; expanding public utilities; improving 8.3 acres of public green space with landscaping and pocket parks; and installing approximately 1.5 miles of bicycle lanes and 2.2 miles of walking paths that circle the lakefront and connect with the Riparian Trail, which runs along Chesterfield Creek.
“We are thrilled to be nearing completion of our infrastructure plan and to be partnering with PPG in bringing the first residential building to Wildhorse Village,” said Tegethoff. “As the force behind some of St. Louis’ most impressive new-construction apartment developments, such as The Edwin and the Steelcote communities near Saint Louis University in Midtown, we know they will deliver a first-rate, luxury rental experience that will set the tone for the varied residential offerings in our community.”
Designed by architects Arcturis and LJC, with construction by St. Louis-based Holland Construction Services, The Flats at Wildhorse Village will feature 266 studio, one-, two- and three-bedroom luxury units on four floors that wrap around an interior courtyard with a large-scale resort-style pool, a deck with grilling stations, and firepits. The building’s exterior will resemble townhomes, with balconies and open terraces to add depth and activity to the façade. Units will feature quartz countertops, stainless steel appliances, tile shower surrounds, glass shower doors, and custom flooring, as well as unobstructed lake views. Additional building amenities will include a fitness center with yoga and cycling rooms; pet-friendly amenities such as a dog park and dog spa; a business center and resident lounges to accommodate remote work; bike storage; and a 400-space parking structure. Construction is slated for completion in summer 2023.
“We are eager to break ground on The Flats at Wildhorse Village and watch the larger community come to life,” said Michael Hamburg, owner of PPG. “CRG’s plan ensures Wildhorse Village will provide the kind of modern live-work-play environment that will draw a variety of office and retail tenants, bringing young professionals, couples and families together to enjoy an urban lifestyle in a community that embraces nature and wellness. The Flats continues an exciting trend of new luxury rental housing in an area that, until recently, had been long overlooked by multifamily developers.”
Tucked among some of Chesterfield’s marquee employers, including Bayer, Mercy Healthcare, Pfizer, Inc., and RGA, Wildhorse Village is ideally positioned within the greater community and near notable amenities, such as the Samuel C. Sach’s branch of the St. Louis County Library, the Chesterfield Family YMCA, The J Chesterfield Gym & Fitness Center, Faust Park and the Chesterfield Family Aquatic Center.
Wildhorse Village is the largest mixed-use project undertaken by CRG to date. The firm has a significant presence in Chesterfield, with over 100 acres of development already in place.
CRG is a privately held national real estate development and investment firm that has developed more than 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional, and multifamily assets exceeding $13 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Seattle, Southern California, St. Louis, Philadelphia and Phoenix. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at realcrg.com.
About Pier Property Group
Pier Property Group (PPG) is a private real estate company that focuses on the acquisition, development, renovation, and management of multifamily buildings. The company was founded by Michael Hamburg in 2016 and specializes in development opportunities that utilize public/private partnerships and creative financing. PPG is dedicated to finding ways to preserve underutilized structures through adaptive reuse projects that honor a building’s historical significance. In addition, the firm’s mission is to raise the standards on quality delivered within its new construction projects. Since inception, the firm has completed 426 units totaling $100M with an additional 569 units and $150M currently under construction.
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $2.8 billion in revenue for 2019, Clayco specializes in the “art and science of building,” providing fast-track, efficient solutions for industrial, commercial, institutional and residential related building projects. For more information visit claycorp.com.
LJC is a full-service design and architecture firm committed to enhancing the quality of the human experience and to improving how design and architecture can impact each individual’s emotional being. By harnessing the power of integrated design, including architecture, workplace strategy, interior design, landscape architecture, urban planning and engineering, the company achieves its clients’ goals and aspirations. For more information, please visit theljc.com.