All of the current buildings in Premier 370 Business Park in St. Peters are currently located south of Route 370. However, the business park now will soon have its first building in the section north of Route 370; the tenent/owner remains confidential.
At its Aug. 27 meeting, the Board of Aldermen approved Bill No. 20-85 by a vote of 7-0 in favor of a development agreement with CRG-St. Peters 2020, LLC. The aldermen also approved Bill No. 20-86 by a vote of 7-0 for an agreement with St. Charles County to use county transportation sales tax funds for the roadway and road infrastructure. Ward 1 Alderman Rocky Reitmeyer absent from the meeting.
Developer CRG-St. Peters 2020, LLC, will build a 142,670-square-foot industrial warehouse facility and related improvements on 36.329 acres on a new roadway that will extend Spencer Road, a little over a half-mile north from Route 370.
Extending Spencer Road also will enable access to additional future buildings in the north business park.
Per the St. Charles County Road Board funding application, this new portion of Spencer Road North will be the first phase of a planned roadway extension to connect Salt River Road to Lakeside Park Drive/Truman Boulevard. The future completed road will provide access to Salt River Road, Route 370 and Interstate 70 as future development occurs with Premier 370 North Business Park.
Spencer Road improvements will include 3,000 feet of new three-lane concrete pavement with 8-foot-wide shoulders and street lights, all located within an existing 70-foot right-of-way. The new roadway will be similar to Premier Parkway.
Road improvements and other public infrastructure will cost $2.4 million, which will be provided by the St. Charles County Road Board from the county’s transportation sales tax funds. The industrial warehouse land, building and infrastructure will cost $37.6 million, to be paid by the confidential client and developer. St. Peters is not offering real estate tax abatement or other incentives.
In the face of the owner’s anonymity, the new construction has been dubbed Project Smile. While the name of the company has been the subject of speculation, it is known that the warehouse will serve as a “last mile” distribution center for online retail and as support for various existing product centers in the St. Charles and St. Louis areas.
All of the work on the roadway and Project Smile is to be completed with the warehouse operational by spring 2021.