Cortex Urban Research and Washington University Medical Center Redevelopment
St. Louis, Missouri
The St. Louis Innovation District is the realization of a decade long effort to transform an old and underutilized industrial and warehouse district into a unique 24/7 mixed-use area deigned to support and foster new research-based businesses. Comprising approximately 170 acres, the District is located in the Midtown area of St. Louis to take advantage of its strategic location between the Washington University Medical Center, the Barnes/Jewish/Children’s hospitals campus, and St. Louis University.
To provide guidance and incentives for redeveloping the District, Development Strategies prepared a Chapter 353 redevelopment plan and a TIF redevelopment plan. In addition, a market study and revenue projections were undertaken to support State incentives for a new IKEA to be constructed in the District.
To date new development in the District includes nearly 800,000 square feet of office/research space and a new hospital. In addition, a 380,000 square foot IKEA is under construction.
When build-out is completed, it is projected the District will contain approximately 3.8 million square feet of office/research space, 700,000 square feet of retail, nearly 1,000 residential units, and several hotels, and support over 15,000 jobs.