Developer Dmyterko & Wright Partners has broken ground on a $50 million entertainment and retail complex on 18 acres in Hazelwood, Missouri, as reported in GlobeSt.com. The Crescent Pointe at the Mills property at Highway 370 and St. Louis Mills Boulevard is next to St. Louis Mills Mall and a new 130,000-sf Cabela’s. The project includes a Splash Universe Hotel and Water Park with 130 rooms, and 80,000 sf of retail space and is is expected to be complete by fall 2008.

Bob Cissell of Cissell Mueller Co. LLC is leasing the retail space and says the owner hopes to lease to one bank, a convenience store and junior anchors such as ladies clothing, furniture stores and restaurants.

“It’s more geared toward families,” Cissell said. “The water park will be bringing in families from 200 miles away.”

He said the retail portion will be build-to-suit and pad-ready. Retail lease rates for the St. Louis area are at about $11.66 per sf, according to a first quarter Grubb & Ellis market report. St. Louis Mills, a regional mall, has more than 175 stores, and is owned by Simon Property Group.