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Friday, October 28, 2011

Stonebridge Development Starts in Chesterfield

Chesterfield County and Crosland Southeast Break Ground on Kroger Marketplace at Stonebridge

Development to provide economic boost and restore former shopping destination to region’s gateway

Chesterfield County, Crosland Southeast and The Kroger Co. broke ground on Tuesday at Chesterfield County’s newest mixed and multi-use development, Stonebridge, which will occupy the site of the former Cloverleaf Mall, just outside the Richmond city limits.

A joint venture between Crosland Southeast and the Hutensky Capital Partners, Stonebridge is being celebrated as a significant advancement in revitalizing one of the region’s popular gateways to Chesterfield County, which borders the city of Richmond on the eastern corridor of Midlothian Turnpike.  

“For years now, we’ve envisioned the next stage in the life cycle of this property and today we embark on that vision,” said Tom Jacobson, Chesterfield’s director of revitalization. “Stonebridge will honor the rich history of Cloverleaf Mall by returning a rich and thriving shopping experience to the community and the region. It’s revitalization at its finest – bringing new life to an old space, and the community supports the decision.”

The first phase of Stonebridge includes the construction of nearly 144,000 square feet of retail space – most notably, the 123,600 square-foot grocery anchor, Kroger Marketplace. This first-of-its-kind store in the Kroger Mid-Atlantic region offers shoppers an experience that combines a top-quality grocery store with 30,000 square feet of non-grocery, home store offerings ranging from furniture to home d├ęcor. The remaining square footage of the first phase of development will be constructed for smaller retail shops and restaurants. 

When complete, this Kroger store will employ nearly 250 people. The Kroger Marketplace will be the region’s largest store in size, the Kroger Company’s largest single-store investment in the company’s history and home to the largest Kroger Fuel Center in the region, with nine fuel pumps. 

“Seeing the enthusiasm behind the project confirms and validates our decision to anchor Stonebridge with the Kroger Marketplace,” said Jay Cummins, president of Kroger's Mid-Atlantic division. “It’s an incredible feeling when a company’s enthusiasm is matched by the community’s – and that’s what we’re seeing at Stonebridge with the new Kroger Marketplace.”

Still in the planning phases, Crosland Southeast plans to commence on Phase II of Stonebridge in mid-2012. This next phase is projected to include 175,000 square feet of retail space plus approximately 350 multi-family residences.  

“From the onset, it has been our goal to build a place that restores a sense of community and has the potential to make a positive impact on the region as a whole,” said James Downs, Crosland Southeast partner. “Chesterfield County saw great opportunity in investing in this property and we are working to make that vision a reality.”

Cloverleaf Mall, which opened in 1972 with Sears, JC Penney and Thalhimers as its anchors, is at the intersection of Midlothian Turnpike and Chippenham Parkway in Chesterfield County, just outside the Richmond city limits. The county purchased the site and adjacent property in 2004 to stimulate private-sector interest in a major redevelopment, to serve as an economic catalyst for the Midlothian Turnpike corridor connecting Richmond to the county.

“Once the premier shopping destination in the region, this enterprise zone is ripe with potential and the community is eager for the enhancements,” said Jacobson. “The time to revamp this gateway has arrived and we’re confident that we have the right partners and anchor in place for Stonebridge to flourish in Chesterfield County and the Greater Richmond Region.”

Stonebridge was designed by Pazdan-Smith, engineered by the Timmons Group and will be constructed by HOAR Construction.