By KWMU
http://stream.publicbroadcasting.net/production/mp3/kwmu/local-kwmu-537942.mp3
St. Louis, MO – St. Louis Mayor Francis Slay says his office has reached an agreement with a developer for Ballpark Village, the patch of land next to the new Busch Stadium.
The Cordish Company, of Baltimore, will build a $387 million development on six blocks of land. It will include stores, condos, restaurants, and even a grocery store and bowling alley.
Slay also says the deal keeps the Cardinals to their promise to develop the land because the company was brought in by the team.
"The original promise with the Cardinals was to do a $60 million development over a two block area," Slay said this morning, in an interview. "They brought in the Cordish Company, created a bigger vision, a bigger investment, now it's going to be a $387 million development in the first phase over a six-block area.
"So the Cardinals have very much kept to their promise."
The project also will include $100 million in public funds, but Slay says it won't be current tax money, it will be future tax revenue from the development itself.
The plan still needs approval from a number of various city and state boards, including City Aldermen.
To hear an interview with Mayor Francis Slay about the development, click on the 'mp3' icon above.