Late last week, the St. Louis Board of Aldermen gave final approval to the second phase of Ballpark Village, allowing the project to move forward.
This fall, the St. Louis Cardinals unveiled the expansion of Ballpark Village, the entertainment district outside of Busch Stadium. The $220 million proposal includes the construction of a Class A office building, retail, and entertainment options.
As part of the vote, the Board of Alderman granted tax incentives to the Cardinals and Cordish Cos., the team’s development partner. More from the St. Louis Post-Dispatch:
Included in the package is a 1 percent sales tax on purchases made within Ballpark Village.
Friday’s 16-7 vote came near the end of a three-hour meeting in which several aldermen left early, getting a head start on their three-week holiday break. The bill needed 15 votes to pass.
The $16 million in tax incentives comes on top of the $49 million the city granted the Cardinals in 2012 as part of Ballpark Village’s first phase.
“This is a great day for the city of St. Louis, our region and especially downtown St. Louis,” said 7th Ward Alderman and Board Bill 172 sponsor Jack Coatar in a statement. “The construction of phase two will truly bring the ‘village’ to Ballpark Village, ensuring that it is a vibrant neighborhood where people live, work and play. I’m excited to see both the construction of a high rise residential tower downtown and the first new Class-A Office building in downtown St. Louis since the late 80s.”
Ballpark Village phase II is expected to be completed in 2019.