Markets at Olive Development
The Markets and Olive development is located on the western edge of University City at the intersection of Olive Boulevard and I-170. The entire development consists of approximately 50-acres along both the south and north sides of Olive Boulevard, bordered by I-170 on the west and McKnight/Woodson Road on the east. The estimated $211-million Markets at Olive development is designed to accommodate a potential mix of retail, restaurants, apartments, offices and hospitality.
The first phase of the Markets at Olive will include development of an anchor, a 160,430-sq.-ft. Costco Wholesale store, on the north side of Olive Boulevard, east of I-170. Demolition of the site will begin in late June with site work and grading beginning in August. A detailed schedule of Costco site-related work is provided below.
This development does include the use of tax increment financing (TIF) to help pay project costs including land acquisition, site work, and infrastructure improvements to improve the quality of housing, streets, landscaping, lighting, safety and enhance the overall quality of life in the designated area. More information about the TIF process is available by visiting the Olive and 170 TIF webpage.
Costco Site-Related Work Timeline
|Award Abatement Work||May 14, 2021|
|Notices to St. Louis County for Abatement Beginning||May 17, 2021|
|Commencement of Abatement Work||May 31, 2021|
|Completion of Abatement||July 26, 2021|
|Commencement of Demolition||June 24, 2021|
|Completion of all Demolition||August 31, 2021|
|Commencement of Site Work & Grading||August 5, 2021|
|Commencement of Cut and Hall to South Stockpile||September 15, 2021|
|All Weather Access Roads and Temp. Utilities||October 1, 2021|
|Costco Access Roads||December 31, 2021|
|Completion of South Stockpile||January 10, 2022|
|Site Utilities: Storm and Sanitary Sewers||January 18, 2022|
|Completion of Costco Pad||January 10, 2022|
|Inspect and Adjust Costco Pad for Final Acceptance||February 10, 2022|
|All On-Site Work Complete||February 10, 2022|
|U-City and Other Approvals as Needed||February 25, 2022|
|Turn Over Pad to Costco||February 15, 2022|
Once the pad is turned over to Costco, construction of the building will begin.
In the video below, Director of Planning and Development Clifford Cross explains the anticipated timeline for the project as chronicled in the table above via an interview with City Manager Gregory Rose. He describes what the public can expect to see and experience. As details such as traffic control measures become more define, they will be shared with the community.