Missouri lawmakers passed HB 3231, legislation designed to catalyze hundreds of millions of dollars in redevelopment for Downtown St. Louis properties including the AT&T and Railway Exchange buildings.
The Missouri legislature has approved HB 3231, a bill aimed at stimulating hundreds of millions of dollars in private investment for Downtown St. Louis. The legislation is specifically intended to facilitate the redevelopment of major vacant properties, including the AT&T Building and the Railway Exchange Building, while also fostering innovation districts and supporting Main Street revitalization efforts across the state. The bill is currently awaiting the signature of Governor Kehoe.
This legislative action complements other recent measures, including the passage of the Missouri Downtown Economic Stimulus Act (MODESA), which will support upcoming projects such as the Millennium Hotel redevelopment and Ballpark Village Phase III. Additionally, the St. Louis Board of Aldermen is set to introduce a proposal to invest $55 million in Rams settlement funds into downtown infrastructure, a move expected to be matched by private business capital to further drive regional economic growth.
Good Developments Group moves forward with the $1.2 billion Gateway South redevelopment in downtown St. Louis, focusing on 255,000 square feet for Phase 1.
TriStar Properties proposes a development in Ladue featuring 230 luxury apartments, 42 homes, and 31 villas on a 60-acre site.
The Kansas City City Plan Commission approved a 587-acre airport rezoning and an 87-acre residential project near Shoal Creek Parkway.
Darrell and Jamie McCoy reopen the historic 422 North Main St. building in Downtown Hannibal as Main Street Social House, a new multi-use venue.
Port KC is reviewing a series of development proposals, including a $39M apartment complex in the Northland and a $50M bond request for a manufacturing expansion.
Construction is underway on MajorLux Two, a 123-unit luxury apartment complex with 11,732 square feet of retail space in Blue Springs.
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