The developer behind a plan to finish cleaning up a former Monsanto chemical factory and turn it into a warehouse and industrial park says the project could bring more than 1,000 jobs to the riverfront just south of downtown St. Louis.
Stacy Hastie, owner of cleanup firm Environmental Operations Inc., controls the roughly 40 acres in the Kosciusko neighborhood just east of the Soulard area through SWH Investments II LLC. His plans for the site call for some 500,000 square feet of warehouse, industrial and office space, although that will likely change as developers and users of individual parcels commit to the site.
The St. Louis Board of Aldermen last month approved 25 years of property tax abatement for the site: 10 years with full abatement and 15 years at 50 percent of new taxes abated.
Plans call for $60 million worth of development on site, with about 210,000 square feet of warehouse space, 240,000 square feet of light industrial space and 50,000 square feet of office space in six buildings, according to St. Louis Land Clearance for Redevelopment Authority documents.
City documents say the project will support more than 1,300 employees on site.
The city’s LCRA approved designating SWH Investments II LLC as the redeveloper last week.
Read more: St. Louis Post-Dispatch