CLAYTON, MO-Larry Chapman with Clayco, one of the future developers and owners of the $568 million redevelopment of the Brown Shoe Co. Inc. headquarters, says it will probably take about four-to-five months to secure the necessary approvals to begin the first phase of the mixed-use project. The footwear company has announced that it is bringing in its Famous Footwear division to the 15-acre Clayton project, which is proposed to feature 1.2 million sf of office, up to 80,000 sf of retail, about 360 residential units and a hotel.

Clayco is partnering with US Equities to build the project, with a small share by St. Louis-based Hutkin Development Co., which will handle the retail portion, Chapman says. “There’s still a number of approvals that have to be done with the city, the county and the school district, and Clayton has to approve the density and architecture review that’s part of the public process,” he tells on Tuesday.

His company joined with Brown Shoe last week in gaining about $14 million in incentives to help fund the project, including $6 million in tax credits and $8 million in BUILD construction bonds. According to a Brown Shoe statement, the company will seek to gain more than $43 million in incentives for the project.

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