By Tom Weber, KWMU
St. Louis, MO –
| Read: Redevelopment plan for the mall |
A plan to give Northwest Plaza a major facelift has gotten a final blessing from the St. Ann City Council.
Council members Monday night approved a redevelopment plan, as well as a $250 million financing plan which includes $48 million in so-called TIF funding and $12 million from a newly-created 'community improvement district.' That money is tax revenue the developers will secure, but only after the project starts bringing in money. "The city has made no pledge of dollars whatsoever," said mayor Tim James, in an interview. "This is strictly goin got be driven by the success of the developers."
The mall was built in the 1960s and was a major draw in its heyday but has fallen on hard times, especially during the past generation.
"Boy in its heyday, it really was the cornerstone of St. Ann," added James. "When people asked where you're from, they'd say 'right by Northwest Plaza.' We want to see that kind of cache come back."
Much of the project will involve updating the mall's obsolete infrastructure, which will include a new parking lot and electrical system that James says sparks fires every few months.