Clayco is partnering with US Equities to build the project, with a small share by St. Louis-based Hutkin Development Co., which will handle the retail portion, Chapman says. "There's still a number of approvals that have to be done with the city, the county and the school district, and Clayton has to approve the density and architecture review that's part of the public process," he tells GlobeSt.com on Tuesday.

His company joined with Brown Shoe last week in gaining about $14 million in incentives to help fund the project, including $6 million in tax credits and $8 million in BUILD construction bonds. According to a Brown Shoe statement, the company will seek to gain more than $43 million in incentives for the project.

Officials from the state and city did not return calls for comment, and a Brown Shoe spokeswoman refused to discuss the project. In the company's statement, Gov. Matt Blunt said that the redevelopment will assure the creation of 700 new jobs and the retention of 600 existing jobs.