Downtown St. Louis Eyes Expansion with Cupples X, MLS Stadium and Ball Park Village
Downtown St. Louis is currently in a construction boom. The City is trying to draw more people and businesses to downtown to revitalize the area. Some projects are in the planning phase, while others are about to break ground.
There is a new proposed development next to Busch Stadium in Downtown St. Louis called Cupples X. It would be located between the Cupples 9 warehouse and the stadium. If approved, it will be the first significant net zero energy building in the Midwest. Net zero energy means it makes as much energy as it will use. The project will cost around $42M, stand 4 stories tall, and will house retail, office and event space in its 120,000 square foot building. In addition, the project is seeking a graduated 25 year tax abatement.
Major League Soccer is looking to expand from 20 teams to potentially 28 teams over the next few years, with St. Louis being a strong candidate for a new team. Due to the increase in popularity of professional soccer, the MLS has recently endorsed plans for a downtown St. Louis soccer-specific stadium. It is designed to cost $200M, and seat 20,000, with expansion available for over 28,000. This largely privately funded project is planned to be located on the block immediately West of Union Station. Missouri Department of Transportation currently owns the location and is selling at market price to the city, who will in turn sell the facility to the potential MLS Ownership Group.
The Chemical Building
The Chemical Building in Downtown St. Louis at 8th and Olive has been proposed for another renovation after a failed renovation attempt in 2013. The renovation would update the 17 story, 167,000 square foot building into 120 apartments with retail space available on the first floor, at a cost of $20M. The developer is currently transforming the adjacent 705 Olive building into a hotel. The project is requesting a 10 year Tax Abatement.
Ball Park Village Phase Two
Subsidies are to increase by $16M for the new Ball Park Village plan, to a total of $66M. $40M will be coming from St. Louis taxes, and the remaining $26M from the state of Missouri. The increase is necessary due to the parking garage proposed in the Ball Park Village Phase Two plan. It will include 900 spaces, with 400 spaces reserved for the 29-story luxury high rise apartments. The building will also include the first new Class A office building in downtown in almost 30 years.
Read Constructing a Growing St. Louis for additional projects occurring in the city, including the NGA West Campus, Barnes-Jewish, Union Station, and City Arch River.