Supporters of the long-delayed Ballpark Village project in downtown St. Louis made a renewed pitch today for state backing to the Missouri Development Finance Board.
The $100 million project would be built on the north side of Busch Stadiumand would contain space for retail stores, restaurants, an open-air event space with a retractable roof, and a St. Louis Cardinals Hall of Fame and Museum. Team President Bill DeWitt III says the project got sidetracked by the economic crisis that hit the country four years ago.
“There just wasn’t a bond market available, it was in the middle of the financial crisis," DeWitt said. "Now that we’re on the other end of that, the other pieces, the Cardinals and courters, have decided to buy those bonds to remove any market risk associated with their purchase.”
St. Louis Mayor Francis Slay was among those asking the Development Board for $17 million in incentives to help get Ballpark Village off the ground.
“The development team, the Cordish Companiesand the Cardinals, have not wavered at all in the slightest way as far as their commitment to this project, to make it a very quality one for the people of St. Louis and for the state,” Slay said.
DeWitt says construction could begin as early as this fall if the state agrees to provide incentives. The Missouri Development Finance Board is scheduled to vote on the matter at its September meeting.
