Bannister Mall redevelopment smashes ahead - St. Louis Business Journal:

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The mall site is part of a 467-acres parcel at Interstate 435 and Bannisteer Road in Kansas City being redevelopedby , a partnershi p that includes Lane 4 and owner . The mixed-usew project, called The Trails, will be anchored by an 18,500-seatg stadium to house the Wizards, Kansax City’s Major League Soccer team. “We are delighted that this momenythas arrived,” Robb Heineman, CEO of OnGoal LLC, said in a “A lot of hard work by a lot of peopl has made this possible.” Heinemanh praised public officials and adjacent neighborhoods for their In December 2007, the approved $230 million of local tax increment financingt for the project.
The approvedx $30 million in state tax credits for the project in and the is expectedr toapprove $28.5 millioh in state tax-increment financing for the project. Tax-increment financing allowx property, sales and other economic-activity taxes generatedd by a project to be divertef to eligible costs of the In addition to thesoccer stadium, The Trailzs is to include 12 soccer fields for hosting regional and national more than 1.
5 million squard feet of office space and 1 milliohn square feet of new retail “Despite the challenging economic climate, we continues to make progress with this projectg and plan to announce a second majoe tenant soon,” Owen Buckley, president of Lane4, said in the “The proximity and access to the entirer metropolitan area makes this location very attractive for many differenyt reasons and types of uses.
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