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NorthPark Partners gets green light on North County redevelopment

St. Louis Business Journal - March 2005

 

NorthPark Partners was given the go ahead to develop 600 acres east of Lambert-St. Louis International Airport in a project expected to create a total economic impact of $7 billion.

NorthPark Partners, a group made up of McEagle, TriStar Business Communities and Claycorp., was one of five teams that bid to redevelop the property last fall. The city of St. Louis owns the property, after buying it to comply with Federal Aviation Administration noise restrictions.

The group's proposal includes a mixed-use project of up to 5.6 million square feet of floor area, including office, retail, hospitality, light industrial and warehouse space. The group also committed to making public infrastructure improvements, including building civic facilities in Berkeley, redeveloping Suburban Avenue and creating a greenway in Ferguson, building a new MetroLink station near the development and making other improvements in Kinloch.

It also agreed to have 25 percent minority owned business and 5 percent women-owned businesses involved.

NorthPark expects to break ground this summer.

Charlie Dooley, St. Louis County executive, said the project is expected to create 12,000 jobs and tax revenue of $387 million. He called the project "the greatest reinvestment project in the history of St. Louis County."

 

 

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