ST. LOUIS (KMOV) – The St. Louis Cardinals on Monday presented plans for the long-awaited Ballpark Village near the current Busch Stadium.
The retail, entertainment and office district would span seven city blocks on the 10-acre site, located on the grounds of the old Busch Stadium.
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According to team officials, the Cardinals are buying the bonds to finance the $700 million project.
Team officials said one of the most exciting elements of the initial phase of the project 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.
Officials said the $100 million first phase of the project will include the construction of 100,000 square-feet of retail and entertainment space on a two-block span along Clark Street next to Busch Stadium. The area will include a Cardinals-themed restaurant and Hall of Fame Museum.
According to officials, the project will create 750 permanent jobs and 1,160 construction jobs.
The team says it hopes to break ground by fall and open by spring of 2014. A public meeting on the issue is scheduled for July 5.