St. Louis approves subsidies for Ballpark Village expansion

The St. Louis Board of Aldermen granted the St. Louis Cardinals and the team’s development partner, Cordish Co., $16 million in tax incentives as the team looks to build a second phase of downtown’s Ballpark Village.

Included in the package is a 1 percent sales tax on purchases made within Ballpark Village.

The $16 million in tax incentives comes on top of the $49 million the city granted the Cardinals in 2012 as part of Ballpark Village’s first phase.

Friday’s 16-7 vote came near the end of a three-hour meeting in which several aldermen left early, getting a head start on their three-week holiday break. The bill needed 15 votes to pass.

The second phase is expected to be a $220 million expansion, including an office building, a retail center and a 29-story apartment tower. Work on the projects could be finished by early 2019.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students