KP Development Buys Chrysler Plant
The former Chrysler plant in Fenton is on its way to becoming a light-industrial and office park.
KP Development, formerly known as Koman Properties, closed on the deal Wednesday for the Fenton Logistics Park. The plan calls for more than a half billion dollars of investment into the property and is projected to provide up to 3,000 jobs.
Scott Haley, KP Development’s senior vice president, said two companies are close to finalizing plans within the next few months to locate in the park. He said they include a regional and national players.
"We look to see probably 300 to 400 jobs right off the bat with these first couple of possibilities," Haley said.
There is a lot of work to be done to the 295-acre site, according to Haley. He said KP is looking for local, state and federal subsidies to help offset the “exorbitant” cost of removing concrete slabs that cover 80 percent of the property.
"We spent the last year trying to determine what those costs will be and how we’ll tackle this in a phased approach," he said.
While there’s been lots of speculation about the possibility of a new Rams stadium on the site, Haley said that won’t happen.
"A Rams stadium, or any stadium has not been contemplated for the site," he said.
"It’s got great access. It’s a large piece of ground, and it’s situated in a large business district," Haley said. "I think it’s certainly ripe for bringing those jobs to St. Louis County and the Fenton area."
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