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St. Louis Finally Has a Developer for Long-Sought Redevelopment Project
The St. Louis City Council recently approved the initial steps for 1,800 acres of Maryland Heights floodplain. Plenty of hurdles remain, such as coming up with the money the developer wants to see the project through.
"A business partner of Los Angeles Rams owner Stan Kroenke is seeking to develop 1,800 acres of Maryland Heights flood plain into a vast retail, entertainment, office, residential and sports district," report David Hunn and Kristen Taketa. "The development would be one of the largest, if not the largest, mixed-use ones in the region," they add.
Alan Bornstein is the developer of the mixed-use project, which would redevelop a port of the city's riverfront flood plan that the city has been hoping to redevelop for a decade, without any developers willing to take on the project.
Bornstein is part of the team that infamously demanded tax incentives to keep the Rams NFL team in St. Louis. He's already gone on the record saying that the Maryland Heights project will require tax incentives and a public-private partnership to redevelop. The article includes more details about the size of the project, how it's size compares to others in the region, and what political hurdles might remain for the project to clear when final plans are complete.
Published on Friday, February 5, 2016 in
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