HAZELWOOD, MO-Developer Dmyterko & Wright Partners has broken ground on a $50 million entertainment and retail complex on 18 acres here. The Crescent Pointe at the Mills property, to be built next to St. Louis Mills Mall and a new 130,000-sf Cabela’s, will include a Splash Universe Hotel and Water Park with 130 rooms, and 80,000 sf of retail space. The property is at Highway 370 and St. Louis Mills Boulevard.

Bob Cissell, owner of Cissell Mueller Co. LLC, is leasing the retail space. He says the owner is looking to lease to one bank, a convenience store and junior anchors such as ladies clothing, furniture stores and restaurants. “It’s more geared toward families,” he tells GlobeSt.com. “The water park will be bringing in families from 200 miles away.” The development is expected to be complete by fall 2008.

He said the retail portion will be build-to-suit and pad-ready. Cissell says he doesn’t know lease rates yet. Retail lease rates for the St. Louis area are at about $11.66 per sf, according to a first quarter Grubb & Ellis market report. St. Louis Mills, a regional mall, has more than 175 stores, and is owned by Simon Property Group.

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