The final step for approval of Paul McKee, Jr’s Northside project was taken earlier this week. St. Louis Mayor Francis Slaysigned off on an updated plan for the $8.1 billion project Tuesday, according to a report today by the St. Louis Business Journal.
The plan, which had already been approved by city Aldermen Feb. 10, covers 1,500 acres and includes construction of a commercial recycling center and the clearing of some 21 vacant lots near the Mississippi River Bridge.
But Paul McKee Jr’s project to revitalize North St. Louis hasn’t always bolstered support. Last summer, St. Louis Circuit Judge Robert Dierker Jr. held back nearly $400 million in tax increment financing. Dierker said the plan lacked necessary details.
Now after much negotiation and debate, the development agreement has been signed, and work can begin.
