06:04 PM CST on Wednesday, March 15, 2006

News 4's Jeff Lea

Illustrations : Chouteau Landing Development

(KMOV) -- Busch Stadium planners have been promoting the future ballpark village to the north of the new stadium but its' the property owners to the south who are spending millions right now.

KMOV

Pete Rothschild's development company has owned the old Fulton Bag Company building, a foul ball hit across the highway for 15 years.

He also owns the popular Paddy O's bar and restaurant next door.

Rothschild is now turning the high rise into lofts. He says the Cardinals and historic tax credits are behind south downtown's revival.

"It’s going to connect to Soulard. Eventually that will close in together and downtown and Soulard will be one in the same,” said Pete Rothschild.

Crews are working on a bigger project a few blocks away on 4th street.

For the last several years Chivvis Development has been buying up these historic buildings for the first phase of what will be called Chouteau’s Landing.

"Something along the lines of the University City Loop. Eclectic group of stores and restaurants, a destination for people to come and spend time, to shop, work and live,” said Andy Murphy with Nai Desco.

The project manager said the next phases will give the old Powell Square building and other historic properties new life as well. But 4th street will be the front door.

"The buildings are meant to provide a historic feel, with all new streetscape, really provide a pedestrian friendly environment that welcomes you to the district,” said Tim Rowbottom with the Lawrence Group.

Chouteau’s Landing developers say the new ballpark will certainly draw new crowds downtown and promotes the historic architecture in the area.