St. Louis, Missouri
When the St. Louis Cardinals constructed a new baseball stadium in 2006 in downtown St. Louis, it created a unique opportunity to construct an adjacent mixed-use development on a 10-acre site that was formerly occupied by the previous baseball stadium. This led to the conception of Ballpark Village, a mixed-use development envisioned to create distinctive district that not only provided entertainment venues for sports enthusiasts coming to and from games, but also residences and office space for tenants eager to be “part of the action”.
To help implement the vision, Development Strategies was called on to undertake a blight study, forecast market demand, evaluate the economic feasibility of the proposed development, provide a cost-benefit analysis that illustrated the tax implications for local and state government, and evaluate the potential “net new” revenues that would be created.
In 2014, the initial phase of development – a 100,000 square feet dining, entertainment, retail and Cardinals Hall of Fame and Museum structure was opened, along with an outdoor beer garden and a public passive recreation plaza, located on the site of the former Busch Stadium infield. When completed, the development is projected to include up to 1,100,000 square feet of commercial space (consisting of office, retail, entertainment and restaurant space), structured parking and up to 250 residential units.