CHESTERFIELD 鈥 City officials here are considering buying an office property near Central Park to increase parking there and expand the city鈥檚 footprint amid thousands of new apartments, plus shops and offices at the former mall across the road.
The plan would see the city pay up to $17.3 million for a 4.4 acre site on Main Circle Drive that includes a fully-leased five-story office building, a two-story garage and one lot that would give the city 422 parking spaces.
The purchase is meant to alleviate parking demands for Central Park, where a public theater, pool and library are being renovated, ahead of an expected influx of new activity from the mall redevelopment and Wildhorse Village, another massive mixed-use development nearby.
Officials say the real estate deal would also help the city preserve green space instead of using it for parking, and potentially use part of the office building for city or community services if space becomes available.
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鈥淭his could give us the opportunity to evolve with what is going on in downtown Chesterfield,鈥 Mayor Dan Hurt said.
At least one council member was opposing the idea Friday. Councilwoman Pat Tocco said she was concerned the city was paying too much for the property without exploring alternatives to create more parking.
鈥淧urchasing this building is akin to gambling with taxpayer funds,鈥 Tocco, who was elected in April, said in a written statement.
But officials said the office building lease would generate enough revenue to cover the cost of the purchase. Under the building鈥檚 current leasing operation, Chesterfield could pay down the city鈥檚 debt service while netting $500,000 in annual revenue, said City Administrator Mike Geisel.
A bill authorizing the city to negotiate the purchase of the Central Park Square building and parking, at 16150 Main Circle Drive, and the financing deal is expected to be introduced to the Chesterfield City Council on Monday night. The council could take a final vote on it Aug. 18.
The office building would be owned by the city but run by a property manager, and the parking garage and lot would immediately be available to the city for public use. The properties are owned by Gershman Commercial Real Estate and BurkHill Real Estate LLC, which acquired them from Sachs Properties in 2019.
Chesterfield previously bought land near Central Park with the intent to create new public parking for the area. The city council in 2020 unanimously approved the purchase of 7.8 acres of vacant land between the park and Samuel C. Sachs Library for $6.9 million, after a private developer withdrew plans for an apartment building. The city has yet to develop the land.
Geisel, the city administrator, said Chesterfield wants to preserve the area to expand the park, rather than use it for parking, and that it would have cost more to build new parking there than to buy the existing garage. Estimates for new parking construction ranged between $14 to $30 million, he said.
鈥淧reserving that green space by providing parking next door makes sense,鈥 he said.
In Central Park, the city is undertaking a $2 million renovation of the amphitheater鈥檚 backstage area, meant to draw larger and higher-profile acts, and is studying possible renovations to the 28-year-old Aquatic Center. The nearby Sachs Library, a county library branch, is undergoing an $8 million overhaul using up to $6 million in tax revenues generated by the massive new residential and commercial developments being built nearby.
Chesterfield in 2022 approved a $353 million tax-increment financing package to help turn the former city mall into an urban downtown of apartments, homes, shops and offices and also to build Wildhorse Village, a housing and retail complex, on undeveloped land nearby. The Chesterfield TIF is meant to pay for new infrastructure in the mall area, including roads, sidewalks, parking garages and utilities but also upgrades at the city鈥檚 central park, amphitheater and Sachs library.
Geisel said the city could consider using TIF funds to reimburse costs of acquiring the Main Circle properties if the purchase is approved.
Post-Dispatch photographers capture tens of thousands of images every year. See some of their best work that was either taken in June 2025 in this video. Edited by Jenna Jones.