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ROCK HILL, MO-Construction is nearing completion and the designs have been completed for the first phase of the Market at McKnight mixed-use development located at the intersection of North Rock Hill, McKnight and Manchester roads. The $95-million project will be developed in two phases with the first phase consisting of 126,000 sf of retail space, says Pete Sebelski, VP of development for Novus Development, based in Webster Groves. The cost for the first phase of the project, which is on 13.4 acres, is approximately $35 million, he says.

The location is on highly trafficked Manchester Road and near Highway 40, which is expected to temporarily close early next year. "The closure of Highway 40 is going to direct a lot more traffic down Manchester Road," he says. The location is also south of Ladue and Clayton, and north of Webster Groves, which are all upscale neighborhoods.

The first phase is currently 41% leased, Sebelski tells GlobeSt.com. Anchor tenant Stein Mart opened last week in a 35,000-sf space and Starbucks is expected to open before Thanksgiving. Other tenants will include Clarkson Eye Care, Cartridge World, Tan Co. and Bandana's. A sub-anchor space of 25,000 sf is still available, he says.