Downtown Chesterfield
A Generational Development Opportunity
Deal Type: Development
Risk Profiles: Opportunistic
Property Types: Multifamily, Land, Mixed Use, Retail, Office
DOWNTOWN CHESTERFIELD
A GENERATIONAL DEVELOPMENT OPPORTUNITY
PRESTIGIOUS
CLOSED-DOOR SUBMARKET
HISTORIC
UNDERSUPPLY
HIGH-INCOME
RENTER DEMAND
SHOVEL
READY
THE OPPORTUNITY
Global Real Estate Advisors (“GREA”), as exclusive advisor, is pleased to present Downtown Chesterfield, a generational multifamily development opportunity. Downtown Chesterfield (“DTC”) presents a rare opportunity to acquire and control a fully entitled, district-scale mixed-use development platform within one of the Midwest’s most affluent and supply-constrained suburban submarkets, Chesterfield, Missouri (St. Louis MSA).
For nearly five decades, multifamily development in Chesterfield was effectively prohibited - creating structural undersupply and durable renter-by-choice demand from a high-income demographic base. DTC represents the only location within the MSA where multifamily development can proceed at scale with full entitlement certainty.
The Offering consists of fully zoned, pad-ready development parcels within a municipally supported master plan anchored by permanent public infrastructure. Infrastructure is complete. Political risk has been eliminated. Vertical development can proceed immediately.
Investors may pursue full-district control, phased parcel aggregation, or targeted development tranches - enabling flexible capital deployment aligned with individual return thresholds and portfolio strategy.
DOWNTOWN CHESTERFIELD
ENTITLEMENT EXECUTION AND CERTAINTY
Fully Approved and Executable
Zoning, density, height, land use, and site plans are approved across parcels ranging from +/- 1-16 acres.
Infrastructure Delivered
Utilities in place. Roads and public realm improvements complete. No predevelopment drag.
Municipal Alignment Secured
City-supported transformation of the former Chesterfield Mall into a walkable downtown core.
Renowned Sponsorship
Led by Michael Staenberg and The Staenberg Group — nationally respected developer with a legacy of large-scale execution in Chesterfield (+ 45 million SF of development experience).
Structurally Closed Supply Environment
No alternative multifamily sites remain politically feasible within the submarket.
DEVELOPMENT HIGHLIGHTS
A SCARCITY-DRIVEN DEVELOPMENT OPPORTUNITY IN ONE OF THE COUNTRY’S MOST AFFLUENT AND SUPPLY-CONSTRAINED MARKETS
Supply Constrained Submarket
For more than five decades, Chesterfield prohibited new apartment development leading to limited multifamily supply and pent-up demand.
Superior Yield-On-Cost
Accelerated delivery timeline and earlier NOI realization supports a conservatively underwritten, unlevered yield-on-cost estimated between 7.5% and 8.0%.
Fully Zoned & Entitled
Pad-ready sites with zoning, density, utilities and approvals in place.
District-Level Optionality
Ability to acquire individual parcels, phased groupings, or larger district components.
High-Income Renter Base
One of the strongest household income profiles in the St. Louis MSA combined with strong employment, incomes and strong renter-by-choice demand.
Minimal Lease-Up Risk
Fewer than 1,000 Class A units exist in Chesterfield despite strong job growth and a population base exceeding one million residents within a 20-minute drive.
Basis Protection & Scarcity Value
Fully built-out city with limited future development opportunities.
Phased, Demand-Driven Execution
Logical sequencing supports yield-on-cost optimization and reduced lease-up risk.
LOCATION & MARKET POSITION
Prestigious 63017 ZIP Code | West St. Louis County
$183,000+
Median
Household Income
97th Percentile
Nationally
For Affluence
14%+
Year-Over-Year Rent Growth
In Submarket
Limited Rental Supply
Under <1,000 Units of
Existing Class A Inventory:
High Rental Demand
Demand heavily outweighing supply
via documented 100+ person waiting list
Centrally Located
Three Direct Access Points To
Interstate 64 / Highway 40
DEVELOPMENT HIGHLIGHTS
DOWNTOWN CHESTERFIELD IS LOCATED IN THE HEART OF THE SUBURBAN REGION'S AFFLUENT SHOPPING, ENTERTAINMENT AND EMPLOYMENT BASE
SHOPPING & ENTERTAINMENT
CHESTERFIELD IS THE REGION'S ECONOMIC GROWTH ENGINE
TOP EMPLOYERS, HIGH INCOMES AND LIMITED MULTIFAMILY RENTAL SUPPLY
DEVELOPMENT OVERVIEW
A METICULOUSLY DESIGNED MASTER-PLANNED DEVELOPMENT A DECADE IN THE MAKING
Downtown Chesterfield is a master-planned mixed-use district encompassing approximately 117 acres, designed to deliver a true live-work-play environment in St. Louis’ economic growth center and first choice for livability.
The offering includes multiple pad-ready development sites approved for multifamily and mixed-use construction. Each parcel benefits from fully approved zoning, density, height, and land-use entitlements, allowing developers to move directly into vertical construction.
Ranging from 1 to 16 acres, sites may be acquired individually or as part of a broader phased development strategy, providing flexibility across execution profiles.
DISCUSS DOWNTOWN CHESTERFIELD WITH THE GREA TEAM
Qualified investors and developers may request additional information and engagement details.
CONTACT
GREA MIDWEST | EXCLUSIVE ADVISORS
BOBBY MILLS
Managing Director
314.852.7388
bobby.mills@grea.com
CHRISTOPHER SACKLEY
Senior Manging Director
312.203.9740
chris.sackley@grea.com
GARY GOLDMEIER
Associate
314.549.6802
gary.goldmeier@grea.com
WILLIAM “BILL” MONTANA
Senior Managing Director
708.220.9960
bill.montana@grea.com
FINANCE DIRECTOR
MATT DZBANEK
Senior Director - Capital Services
646.517.7222
Mdzbanek@grea.com
