(KMOV) -- Popular Swedish retailer IKEA will break ground on its midtown St. Louis location on June 24.
The groundbreaking ceremony will take place at 10:30 a.m. at the intersection of Duncan and S. Vandeventer.
The 380,000 square-foot store will sit on 21 acres in the Cortex area. It will be the 41st IKEA store in the country. According to IKEA, the two-story store will be built on top of a parking structure that will contain roughly 1,250 spaces. More parking will also be available in a lot to be constructed at Forest Park Ave.
In addition, the store will feature three model home interiors, a supervised children’s play area and a 450-seat restaurant serving Swedish and American dishes.
The project is expected to generate $250 million in new taxes and bring about 500 construction jobs. IKEA says it will hire 300 full-time workers.
Company officials said the store will have a prominent perch in the new CORTEX research park and will be the first IKEA location in Missouri.
As part of the CORTEX district, CEO and President Dennis Lower said Cortex is working to raise approximately $10 million for a new MetroLink station on the Cortex campus. Lower said CORTEX hopes to raise the money and get approval from Metro in a year. If that happens, plans call for construction to begin in 2015 and the station to open by 2016.