Improved economy rekindles downtown development projects

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KMOV.com

Posted on May 19, 2010 at 7:03 PM

(KMOV) -- The recession stalled several development projects downtown. But now that the economy is beginning to show signs of improvement, at least three major developments are moving forward.

Cardinals President Bill Dewitt says he remains optimistic that Ball Park Village will become a reality once the credit market rebounds.

Dewitt says that in the meantime, several community groups are interested in booking the softball field next to the stadium. The cardinals recently invested in a tarp for that field because of all the recent rains. While Ballpark Village remains on hold, other downtown developments are proceeding.

The old Dillard's building has been vacant for nine years. It was re-named "The Laurel" and touted as a condo development, but the developer at the time shut down. Now, thanks to the Department of Housing and Urban Development and union pension fund investments, the financing is in place.

St. Louis Centre's redevelopment will also be underway soon.

Mayor Francis Slay says that views on downtown today compared to ten years ago should be nothing but optimistic.

 

 

 

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