Mon May 21, 2012
Cardinals will again seek approval to build Ballpark Village
This is a story that may sound familiar to some of you.
The St. Louis Cardinals and developer Cordish Cos. will step in front of a city agency on July 5 to outline their plans for Ballpark Village, the 10-acre site north of Busch Stadium.
It will be the third time the Cardinals bring their plan for Ballpark Village in front of the St. Louis Downtown Economic Stimulus Authority, which would allow them to access certain incentives. They took that step in 2008 - and then the economy tanked. They took that step again in 2011. The site remains a softball field and parking lot.
The Cardinals and Cordish say there have been a couple of major developments since then:
- All of the private financing commitments have been secured.
- The office tower is 80 percent pre-leased.
- The team and Cordish are promising to purchase the bonds if the market does not think they're a good buy.
The full proposal by the numbers:
- PRICE: $100 M for the first phase.
- JOBS: 1,160 construction and 750 permanent for first phase.
- HALL OF FAME + RESTAURANT: 30,000 square feet
- RETAIL + ENTERTAINMENT SPACE: Total 100,000 sq. feet, on two blocks along Clark Street next to Busch Stadium (see diagram above, second image in photo gallery)