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University City highlights Delmar Loop redevelopment, Marketed Olive projects and incoming retailers
Summary
Interim City Manager Brooke Sharp and Mayor Terry Crow described multiple private and public investments in the Delmar Loop and Olive Street corridor, including Dierbergs and Target at the Marketed Olive development (opening 2026), the True Hotel and other Loop projects, and a 3rd Ward TIF expected to generate substantial sales-tax gains.
City leaders described a run of private projects and public incentives intended to revive the Delmar Loop and support retail and housing growth.
Interim City Manager Brooke Sharp said construction is underway for Dierbergs and Target at the Marketed Olive development, both slated to open in 2026, and that Loop projects including Subtext Local and the True Hotel are expected to open this year. "University City continues to experience strong momentum in both public and private investment," Sharp said.
Mayor Terry Crow said the city has added roughly 1,000 new apartments and called for a "reimagining" of the Loop to better match the local market and reduce vacancies. He identified Parking Lot Number 4 (behind the old Cicero’s) as a major undeveloped parcel that the city will consider for future uses to increase nearby housing and activity.
Crow also discussed a 23-year tax increment financing (TIF) district tied to the Costco, Dierbergs and Target developments and cited a projected long-term increase in city sales-tax revenue from the development. Officials said they will continue to coordinate with the Loop Special Business District and retail sales-tax partners to support business attraction and retention.
