As progress is made on redeveloping Cloverleaf Mall, Kroger signs on to build their largest East Coast store, according to the Richmond Times-Dispatch.

There is still a lot of work to be done as the county must figure out swere, water and roads. Also, Kroger is the only committed tenant at this point.

But, the hope of seeing the vacant mall redeveloped and the promise of a large grocery store is exciting to area residents. Once the facility is fully transformed into the mixed-use project the new developer desires to create, area homeowners should see a spike in the home values because of the boost to local economy, proxmity to amenities, and job creation. Also, the launch of new businesses within the county will help increase the tax base, helping to keep real estate taxes down.

"Years in the works, Chesterfield County's plans for redeveloping the now-vacant Cloverleaf Mall are moving forward -- but slowly.

After 35 years of business, the mall closed in February 2008. The county purchased the final piece of the $16 million property in August with an agreement from N.C.-based developer Crosland Investments LLC to purchase the property for the same price, plus interest, and develop it into Stonebridge, a mixed-use project.

But before that can happen, the county must issue bonds to fund $11.3 million worth of infrastructure, including sewer, water and roads.

That step hinges on Crosland's ability to sign enough retailers for the mixed-use project to satisfy increasingly stringent lending requirements. Kroger has committed to build its largest East Coast store, but it is the only tenant to sign on.

Once built, the 83-acre Stonebridge would be a retail-heavy development anchored by a 123,000-square-foot Kroger Marketplace store. In all, there would be 400,000 square feet of commercial and office space combined with 300 town houses and apartments."

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