A 29-story luxury high-rise residential tower is the centerpiece of the second phase of the Ballpark Village project announced Tuesday by the St. Louis Cardinals.
The $220-million, 550,000 square-foot development also will include retail, restaurant and entertainment space. It will be the first new major office building constructed in downtown St. Louis in nearly 30 years.
“We are very excited about the second phase of Ballpark Village,” said Cardinals President Bill DeWitt III. “Our vision of a mixed-use neighborhood where people live, work and play will become a reality. This is a real game-changer for the city of St. Louis and the state of Missouri.”
The second phase of Ballpark Village will complete a full build-out of Clark Street with a glass and steel residential apartment tower on the east end, and a large Class-A office building on the west end, as well as additional retail and entertainment in between.
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Construction will begin in late 2017, with a targeted completion date of 2019.
We are very excited about the second phase of Ballpark Village. Our vision of a mixed-use neighborhood where people live, work and play will become a reality. This is a real game-changer for the city of St. Louis and the state of Missouri.
Cardinals President Bill DeWitt III
The residential apartment tower will be 230 foot tall and will be a luxury high-rise apartment building at the corner of Clark and Broadway. It will offer views of the Gateway Arch, the Mississippi River, the St. Louis skyline, and unobstructed views into Busch Stadium.
The office building at the corner of Clark and 8th streets will sit across from the bronze statues on the northwest corner of Busch Stadium, and will also include structured parking below and street level retail and restaurants.
It will be the first “new construction” office building built in downtown St. Louis in more than a generation, when Metropolitan Square opened in 1989.
Also in Phase II will be a two-story retail marketplace and entertainment venue overlooking the existing Busch Stadium, the signature “open space” of Ballpark Village. The marketplace will include diverse food options and other amenities to support the new office and residential tenants in the project.
A video accompanying a story at stlcardinals.com shows detailed plans for the development, including artists’ concepts showing various parts of the project, including plans for the apartment building beyond the outfield seats at Busch Stadium.
A bill filed Tuesday seeks approval from the city of St. Louis to amend the existing development agreement that enabled the first phase of Ballpark Village. With approval of a short amendment, the development team will have the green light to initiate a second phase that is substantially more ambitious than the 100,000 square-foot, $100-million first-phase that opened spring 2014.
“The second phase of Ballpark Village is more than five times the scale of the first phase of Ballpark Village,” said 7th Ward Alderman Jack Coatar, who is sponsoring the legislation. “This bill will enable one of our city’s most successful companies to expand (its) investment in downtown St. Louis and build on the incredibly strong momentum established with the new ballpark and the first phase of Ballpark Village.”
To make the large downtown project a reality, the development team is proposing to use a portion of the new tax revenue generated solely within the Ballpark Village project area, including an additional self-imposed 1 percent sales tax to underwrite the bonds issued to support project infrastructure costs.
Phase II marks another strong investment by the Cardinals and demonstrates their commitment to the City of St. Louis. The growing footprint of this top-notch, regional entertainment destination will put more people to work and give more people another place to play downtown.
St. Louis Mayor Francis Slay
Only taxes generated by the Ballpark Village project itself, as well as private equity and debt investments by the development team, will be used to finance Ballpark Village.
In addition to generating revenue to support the expansion of Ballpark Village, the second phase is expected to generate millions in additional tax revenue for the city of St. Louis, the St. Louis Public School District and the state of Missouri.
“The Cardinals have built a world-class franchise, a stellar team, and an incredible fan experience, bolstered by Ballpark Village,” St. Louis Mayor Francis Slay said. “Phase II marks another strong investment by the Cardinals and demonstrates their commitment to the City of St. Louis. The growing footprint of this top-notch, regional entertainment destination will put more people to work and give more people another place to play downtown. I am excited to see the Cardinals add another quality project to the building boom that’s happening throughout our City.”
Just as the first phase of Ballpark Village created more than 1,000 construction jobs and 1,700 permanent new jobs when it opened, the second phase of Ballpark Village stands to create 1,500 construction jobs and more than 1,000 permanent new jobs.
“The men and women of the skilled trades took tremendous pride in building Busch Stadium and Ballpark Village,” said Jeff Aboussie, the former Secretary Treasurer of the St. Louis Building Trades Council. “Big projects like this are about more than just creating jobs, they are about providing an opportunity to develop a career in a highly skilled trade, and they strengthen our community thanks to a strong focus on construction workforce inclusion.”