KP Development, a St. Louis-based build-to-suit developer, has placed the former Chrysler assembly plant in Fenton, Mo., under contract. KP Development will develop a master plan for the redevelopment of the 294-acre site.
“This recognizable site is a prime location for new industrial and office jobs, which will be our major focus,” said Terry Barnes, president of KP Development, in a written statement. “KP Development will devote the time, energy and capital needed to breathe new life into the property, which at one time was home to almost 7,000 jobs.”
Located near the Interstate-44 and Interstate-270 interchange, while also featuring rail access, the site provides an easy-to-access Midwest location that has potential for industrial development.