ST. LOUIS (KMOV) -- The St. Louis Cardinals announced Tuesday they will finally break ground on the seven-block Ballpark Village in mid-November.
The Missouri Development Finance Board approved the $700 million project Tuesday morning, one of the final steps in the public approval process.
“Today is a significant milestone in a long journey to make Ballpark Village a reality,” said Cardinals President Bill DeWitt III. “We are very excited to finally get started.”
In July, the Downtown Economic Stimulus Authority approved $17 million in tax-increment financing.
Initial plans showed the retail, entertainment and office district will span seven city blocks on the 10-acre site, which is located on the grounds of the old Busch Stadium.
The $100 million first phase of Ballpark Village is planned to be complete by Opening Day 2014.
One of the most exciting elements of the initial phase is the creation of the St. Louis Live! Plaza, an area covered by a retractable glass roof that will include a 40-foot LED screen for watching sports.
It also includes plans for a team hall of fame, a themed restaurant and an Anheuser-Busch-sponsored beer garden along Clark street next to Busch Stadium. The first phase will also include streets, parking, and site infrastructure to support the future phases of the project.
According to officials, the project will create 750 permanent jobs and 1,160 construction jobs.