Northside developer Paul McKee given the green-light on the Bottle District
Can Paul McKee and the St. Louis Board of Alderman put the 17-acre Bottle District project in Downtown St. Louis be put back together again? Despite the fact (or maybe because of it) that his massive Northside project has yet to gain enough traction to get off the ground, developer McKee seems to think so. And more importantly, it now seems that the Board of Alderman agree with him. The Housing, Urban Development and Zoning Committee gave preliminary approval to move forward in a 9-0 vote. Should the full Board of Alderman approve, the plan would be for McKee to buy the site from current owner Clayco, and create a $190 million mixed-use development
Located just north of the Edward Jones Dome (home of the Rams) along Interstate-70, the site is one of the most desirable development locations left available Downtown. Once the new Mississippi Bridge is complete, its location next to the bridge will make the site even more visible and accessible than it already is. While it seems that the currently proposed plan is a scaled-back version of what was being discussed in 20o6, it is good to see that this highly visible eyesore might soon be getting a major upgrade.
Still the plan might still hit opposition by many who see it as simply a way to leverage existing Tax Increment Financing (TIF) and other tax credits to help fund the stagnant Northside project. Should be hearing more soon.
via Building Blocks