Payne Family Homes plans a mixed-use development on 260 acres in O’Fallon with plans for retail and office space development along with 400 single-family homes.
The $400 million development is on largely undeveloped property at the northwest corner of Interstate 64 and Route DD just across the interstate from Winghaven. The development will be called The Streets of Caledonia and includes plans for 80 acres of office space and 25 acres of retail development featuring a grocery store, a pharmacy, and urgent care center.
THF 40 DD Development LLC, a company associated with developers Michael Staenberg and Stan Kroenke, largely owns the property. Staenberg and Kroenke, owner of the Lost Angeles Rams, have been involved in litigation delaying development of the property for more than a decade.
O’Fallon officials say Payne and other entities involved with the project have not yet submitted development plans as part of the city’s review process.
Tom Drabelle, the city’s communications director, said Oct. 13 that the site is one of the largest undeveloped tracts the city in the southern part of the city. Other tracts of undeveloped land in the city are locate north of Interstate 70 some with limited development prospects because much of the property is o flood plain.
The development is across I-64 from MasterCard and Citicorp and east of the city’s new 55-acre O’Day Park, which the city expects to begin construction soon.