Cottleville Town Centre will be getting a new name and some new tenants if a site plan is approved by the Cottleville Planning and Zoning Commission and Board of Aldermen later this month. Phase one of Cottleville Town Centre, soon to be renamed Cottleville Town Square, was completed in 2005, and developer Cottleville Ventures hopes to break ground on the $7 million to $8 million phase two of the project in the spring of 2007. Phase one of Cottleville Town Square, located on the corner of Highway N, consists of three buildings in the heart of downtown, including Travena's restaurant; a two-story retail building that houses a wedding dress shop, a quilt store and a home gallery; and a two-story office building. The newest addition planned for the project is a mixed-use development that will include two, three-story buildings that will house 50 luxury lofts on the second and third floors with 16,000 square feet of retail space on the first level. The two buildings will complete the project, forming an actual square.
The center of the project will feature a lighted fountain surrounded by green space. "We're excited about it. One of the city's priorities is to redevelop the downtown area and bring in more combinations of retail and residential. This development will be an asset to the city," said Scott Lewis, Cottleville city administrator and chief of police. The mixed-use zoning for the project has been approved by Cottleville Planning and Zoning Commission. The architectural drawings and construction plans will be presented to Planning and Zoning and the Board of Aldermen later this month. "We're hoping in the next month to have all of our construction documents and artists' renderings completed so we can set up our sales office and start pre-selling [the units]," said Mike Reiter, a partner in Cottleville Ventures with Mike Valenti. Reiter said the one- to two-bedroom lofts will range in size from 700 to 1,500 square feet, and the spaces are highly customizable. The lofts will all have the option for 11-foot- to 17-foot- high ceilings, hardwood floors, stainless-steel appliances and granite countertops. The price range for the lofts can be anywhere from $150,000 to $500,000, depending on the features chosen, but Reiter said he anticipates the average loft of 1,300 to 1,400 square feet to sell from $150,000 to $275,000. Reiter said the company was targeting both young professionals and empty-nesters looking for a downtown urban lifestyle. If approved, the lofts will be the second of its kind in St. Charles County. The Moore Co. is currently constructing about 80 lofts in its Harmony Ridge subdivision, also in Cottleville. "I think we're going to see more of these [lofts] popping up in this type of environment," said Reiter. Phase one of the development is already 95 percent leased, and Reiter has already had some prospects for new tenants in the retail section of phase two. The company is hoping to bring in specialty shops like a dry cleaner, ice cream parlor, coffee shop and hair salon. The 16,000 square feet of retail space has enough room for 12 to 13 new tenants. "It's a place where you can enjoy several different venues, ... all in walking distance," said Reiter. The architect for the project is St Louis-based Schwetye Architects.