2008 Woodie Awards
Developers may leave St. Louis holding the bag
Ambitious Ballpark Village development downtown reminiscent of projects that have failed in the past
By: Shawn Dooley
Issue date: 10/12/06 Section: Opinion/Editorial
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I don't want to see the new Ballpark Village develop at the cost of humiliating this city. Didn't St. Louis learn from other massive projects that just fall flat?
Taxpayers shouldn't have to cover the costs of these big projects. If the projects are so good, then why don't the developers invest their money to see if the project returns a profit?
The St. Louis Cardinals want to build a $650 million, 12-acre, mixed-use retail, entertainment and residential district. However, the Cardinals need help from the city because of the $650 million price tag. If help from the city is worked out, then Ballpark Village construction could start as soon as spring 2007. When the city agreed to help with the cost of construction of the Cardinal's Busch Stadium, the Cardinals agreed to invest at least $60 million into the Ballpark Village site before 2009.
The problem with St. Louis is that the city is full of small thinkers and progresses slower than a 90-year-old man. City officials have received pressure from citizens to continue the momentum that has been brewing in downtown St. Louis. The old, remodeled structures are blending with the new structures. Districts and areas are naturally forming, starting with the Washington Avenue Business District, Lafayette Square and Laclede's Landing, among others. These areas are coming together at a modest pace because there are several steps to putting them back together.
The city is at its best when helping small movements of development and St. Louis falls flat when involving itself with massive projects like Ballpark Village. If the St. Louis Cardinals want to fill six blocks of prime city property just north of Busch Stadium with this development, then go ahead - but without the city's help.
The St. Louis Cardinals are asking for tax increment financing on the project, which means any property taxes generated will go right back into the property. The city won't pay for the development of the property, but it also won't earn any taxes from the property once it is developed. The city is thinking big about the possibilities of the property, but at what expense?
Taxpayers shouldn't have to cover the costs of these big projects. If the projects are so good, then why don't the developers invest their money to see if the project returns a profit?
The St. Louis Cardinals want to build a $650 million, 12-acre, mixed-use retail, entertainment and residential district. However, the Cardinals need help from the city because of the $650 million price tag. If help from the city is worked out, then Ballpark Village construction could start as soon as spring 2007. When the city agreed to help with the cost of construction of the Cardinal's Busch Stadium, the Cardinals agreed to invest at least $60 million into the Ballpark Village site before 2009.
The problem with St. Louis is that the city is full of small thinkers and progresses slower than a 90-year-old man. City officials have received pressure from citizens to continue the momentum that has been brewing in downtown St. Louis. The old, remodeled structures are blending with the new structures. Districts and areas are naturally forming, starting with the Washington Avenue Business District, Lafayette Square and Laclede's Landing, among others. These areas are coming together at a modest pace because there are several steps to putting them back together.
The city is at its best when helping small movements of development and St. Louis falls flat when involving itself with massive projects like Ballpark Village. If the St. Louis Cardinals want to fill six blocks of prime city property just north of Busch Stadium with this development, then go ahead - but without the city's help.
The St. Louis Cardinals are asking for tax increment financing on the project, which means any property taxes generated will go right back into the property. The city won't pay for the development of the property, but it also won't earn any taxes from the property once it is developed. The city is thinking big about the possibilities of the property, but at what expense?
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