ALTON - Valcour Development announced late Friday, Dec. 8, 2023, that it is pleased to announce three new tenants to the Alton Circle Center Development at 1721 Homer M. Adams Parkway in Alton - Marshalls, Ulta Beauty and Five Below. Valcour said the three businesses have signed leases and will soon join the existing Big Lots, Goodwill, AT&T Store, and the brand-new Starbucks at Alton Circle Center.
Valcour said Friday the new stores will fill the space left vacant after the closure of Schnucks in 2020. Work has begun on the total redevelopment of Alton Circle Center and is expected to continue through late 2024. In addition to the new stores, the project includes a refresh of the entire center, including new facades and storefronts, new parking lot paving and lighting, a new roof, improved vehicular access from Buckmaster Lane, and improved stormwater drainage.
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Valcour Development principal Mark Breihan, made this statement: “We are thrilled to bring new life to the property, which has suffered since the loss of Schnucks. We could not have brought this project forward without the cooperation of the City of Alton.”
Gregory Caffey, Alton Director of Planning and Development, added: "The City of Alton is pleased to support Valcour's redevelopment of Alton Circle Center. The efforts to diversify its tenant mix and bring new retail offerings to Alton will certainly help grow the local economy.
"The utilization of the business district was essential to the revitalization of this aging shopping center and Valcour's long-term commitment to the project."
The total anticipated investment will exceed $8 million and is proceeding in the face of the increasing construction costs and a high-interest rate environment.
Breihan said this significant investment is made possible in part by the recent approval of the Route 3 and Buckmaster Business District by the Alton City Council and the establishment of a 1% sales tax within the district to fund a portion of certain eligible project costs.
The project team consists of developer Valcour Development, leasing by Pace Properties, architect TRi Architects, and general contractor Bex Construction Services.
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