A Brownfield is developed real property which may or may not be contaminated or environmentally impacted from prior use. These unknown conditions raise questions standing in the way of the property’s sale or redevelopment, which reduce its value and require investigation and assessment. Examples of Brownfields include former industrial sites, gas stations, dry cleaners, fuel and chemical depots and any other property that used or contained hazardous materials or petroleum. Brownfields also include properties affected by contamination migrating from a neighboring or nearby property. Brownfields may not be contaminated in reality, but suspicion creates stigma that impairs the property’s potential.
A Greyfield is developed real property suffering from excess vacancy, prolonged idleness, blight, use failure or even total abandonment—but also possessing (potentially) reusable infrastructure, such as parking lots, utility hookups, or structures. Examples of Greyfields include obsolete retail and commercial properties and abandoned office complexes, as well as mothballed, decommissioned and legacy industrial facilities. Similar to Brownfields, Greyfields may be blighted or in substantial disrepair, but unlike Brownfields they have no known or suspected environmental contamination of any significance.
A greenfield is undeveloped real estate with no previous use. Many also consider a property only used for light agricultural purposes to be a greenfield. An undeveloped property may yet have environmental contamination—if, for example, it is adjacent to a property that is leaking hazardous substances across the property boundary—but such a property would not be considered a greenfield and would be better classified as a Brownfield (or possibly a Redfield).
A Redfield is real property with known environmental contaminants or conditions that the owner, the government or a reliable third party have determined is in need of remediation as a prerequisite to future development—to mitigate potential human health risks or to comply with environmental laws. Many Redfields are already subject to government regulatory orders or enrolled in voluntary cleanup programs. Unlike a Brownfield, there can be no doubt about whether a Redfield is contaminated. A Redfield is affirmatively known to be contaminated and will likely require active remediation in its redevelopment. Contaminated property could fit into the definition of Brownfield; however, selecting Redfield as the primary statussignals the marketplace that real estate reuse requires corrective action and such remediation is sought.
|A property with productive use as the primary status is predominately in use at the present time. Properties in productive use may have current tenants generating rents or the owner may be operating the property for their own use. If only a small portion of the property is currently in use, then the lister may select productive use as a secondary condition and would choose a more appropriate primary status.|
If the property status has not been determined or is unknown by the lister, it may be selected as "undetermined."
A Bluefield possesses water resources itself or has access to a navigable body of water such as a river, sea or ocean—either directly or via canal or port.
JAMESTOWN MALL REDEVELOPMENT
ST. LOUIS ECONOMIC DEVELOPMENT PARTNERSHIP
175 Jamestown Mall, Florissant, MO 63034
Created On: 01/15/2018 | Last Modified: 02/06/2018
Jamestown Mall Redevelopment
Property/Project size (acres):
Structures on site:
The St. Louis County Port Authority is pleased to present to qualified developers a prominent site in North St. Louis County, Missouri.
Expanded Data - Diligence Prospectus
The Property is located within a portion of North St. Louis County that is prime for development, offering access to a work-ready supply of well educated labor. The surrounding area is populated with approximately 136,434 residents within a 5-mile radius of the Property. Furthermore, educational achievement in the surrounding neighborhoods outpaces the national average, with 90% of the local labor force achieving a high school diploma/GED or more. Taking advantage of these assets, the Boeing Company recently invested in North St. Louis County to add 700 information technology jobs to its newly developed “Center for Excellence.” As well, the Property is located within close proximity to a recently-constructed, $4-million community center and several industrial parks, such as NorthPark and Aviator Business Park. The Property totals approximately 140 acres of land, and is zoned as a planned commercial district. The Property is located in unincorporated North St. Louis County. Several communities are located within 5 miles of the Property, including the Black Jack, Bellefontaine Neighbors, Calverton Park, Dellwood, Ferguson, Moline Acres, Florissant, Riverview, Spanish Lake, Glasgow Village, and Castle Point. Located only three miles from Interstate 270, the Property is easily accessible by automobile. The Property is located only one mile west of the recently expanded Missouri Route 367, which provides quick access into St. Charles County, Missouri, and Alton, Illinois. Interstate 170, which connects North St. Louis County to the central core of St. Louis County, is located only six miles from the Property. The Property is located within a community with more than 2500 local businesses employing more than 32,000 individuals. The Property is only 20 minutes from St. Louis Lambert International Airport and 30 minutes from both downtown St. Louis and downtown Clayton, the region’s government and judicial centers which serve more than one million citizens. The public bus system, MetroBus, provides public transportation for the Property, including multiple bus stops along the Property’s boundaries. MetroBus serves transportation needs extending from St. Louis–Lambert International Airport to the metro-east area in Illinois. The Property offers access to diverse housing and educational options. The Property is easily accessible from more than 57,000 local housing units, with a median home value of $127,132. Several institutions of higher education are also nearby.
The Authority seeks proposals from developers to contract for the purchase of the Property from the Authority. The proposal must meet the following minimum requirements: For “As Is” offers to purchase, the minimum bid must meet or exceed Two Million Five Hundred Thousand Dollars ($2,500,000) (“As Is Minimum Bid”). No commissions will be payable by the Authority. Purchaser is to assume all remediation, demolition (including all costs of removing asbestos), and other site clearance costs. Prospective bidders should conduct their own investigation of the cost of remediation, demolition, and site clearance costs. The Property is sold AS IS, without warranty as to any matters. Proposals may not be contingent on feasibility, title, or survey. However, proposals may be contingent on rezoning, financing, environmental, physical, or soil condition subject to the below requirements and conditions. For offers to purchase the site “Clean,” the minimum bid must meet or exceed Twenty-Three Million Five Hundred Thousand Dollars ($23,500,000) (“Clean Minimum Bid”). No commissions will be payable by the Authority. Proposals may not be contingent on feasibility, title, survey, environmental, physical, or soil condition. However, proposals may be contingent on financing or rezoning, subject to the below requirements and conditions. As a potential bidder, you should thoroughly investigate all aspects of the Property prior to bidding. Bidders desiring to inspect the interior of the Property may contact Dustin Allison, General Counsel, at the above-provided address or telephone number to arrange access to the Property. Bidders are advised to perform their due diligence for the Property before submitting a bid.