Amid what seems to be a booming market for new industrial buildings, even more space is underway.
The newest construction is planned at the former Chrysler auto assembly site in Fenton, some of which could be ready for occupancy as soon as next year, according to a proposal from KP Development. The Fenton Logistics Park would add around 2 million square feet of space for warehouses, offices and industrial tenants at a time when industrial space is being added to the regional market at a rapid clip.
KP Development appears to be following the same playbook for the former auto manufacturing site as Panattoni Development Co., which in recent years has turned the old Hazelwood Ford site into Aviator Business Park.
And, like similar logistics-focused business parks, it is asking for a hefty helping of incentives from taxpayers to help accelerate the project.
Logistics warehousing is a sector regional leaders have targeted as a priority for growth. They tout the St. Louis area’s location and transportation infrastructure, and many say incentives are important to attract facilities from companies scouting multiple regions for distribution centers.