Olivette Development and Economic Enhancement Strategy
The City of Olivette, a second-ring suburb of St. Louis, benefits from its central regional location, near employment centers and good schools, and relatively affordable housing stock. The city nevertheless has struggled to create a vibrant commercial district along its main central corridor that serves residents’ desires for a defined and active city center, as well as leverages its potential to draw in consumers and new residents regionwide.
Development Strategies was brought on to help the city take a development-based approach to achieve its planning, economic, and strategic goals. Two sites along the corridor were identified for their potential to catalyze development. Development Strategies analyzed the marketability, feasibility, and fiscal impact of numerous development scenarios on the catalyst sites, and considered how they aligned with the city’s strategic goals. A funding strategy was also provided, identifying opportunities to create spinoff revenue to fund public improvements along the corridor and incentive tools that could be used to encourage projects consistent with the city’s strategic goals.
The final recommendations included the most economically viable options that would provide the greatest financial benefits to the city while also promoting the goals of the comprehensive plan. Development Strategies later worked with the city to issue developer RFPs and advise on a preferred developer for both sites.