brickandmortar wrote:Sad thing is, I have read practically every page in this thread.
Sad thing is, I've read every single post on this forum. And not all in one day.
Sad thing is, I've read every single post on this forum. And not all in one day.
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innov8ion wrote:Hopefully not all in one day!brickandmortar wrote:Sad thing is, I have read practically every page in this thread.
Nope, just in increments since March 4, 2005
I've read most of the posts on this forum. Sometimes some people can really get long winded, and when they're on a subject I'm not remotely interested in, I usually just skip ahead.
I heard on the news this morning that the Cardinals are trying to get 270 Million in additional tax money for BPV?? how can they possibly have that much money up in the air and still say that this project is a go??
That can't possibly be right. Are you sure it wasn't $270 million in private bonds to go along with the tax money? That would bring the total for the first phase right about to the advertised level. The private bonds were to be sold right about this time, so maybe they were saying the bonds are going to be sold, and for that much.
An additional $270 million in tax money would have to leverage about $1 billion in private money for them to get that much tax money.
An additional $270 million in tax money would have to leverage about $1 billion in private money for them to get that much tax money.
I just found the article on Channel 5's website. They are just asking the state today for the portion needed from them. The article incorrectly states how much will come from the state, but there is $115 million total in tax money. The development of the first phase is $387 million. Therefore, $272 million is private money.
Link
Link
That was what I heard on Fox 2 (go figure). The only reference I have been able to find is on KWMU, but they don't say the amount of the money. Maybe I misunderstood? Worth figuring out though.
Link
http://www.publicbroadcasting.net/kwmu/ ... ID=1114811
Link
http://www.publicbroadcasting.net/kwmu/ ... ID=1114811
$26.8 mil. recommended for Ballpark Village
By Matthew Franck and Jake Wagman
OF THE POST-DISPATCH
07/17/2007
JEFFERSON CITY -- The Missouri Department of Economic Development recommended today that the state pitch in about $26.8 million toward the development of Ballpark Village, fortifying hopes that the project adjacent to Busch Stadium can be completed by the time St. Louis hosts the Major League All Star game in 2009.
That optimism comes despite the fact that Missouri officials are recommending about $9 million less in state assistance than was requested by the city.
Meanwhile, the state panel needed to approve the money declined to vote on the deal today. Instead, the Missouri Economic Development Finance Board is likely to take up the matter next month.
Continue Reading
By Matthew Franck and Jake Wagman
OF THE POST-DISPATCH
07/17/2007
JEFFERSON CITY -- The Missouri Department of Economic Development recommended today that the state pitch in about $26.8 million toward the development of Ballpark Village, fortifying hopes that the project adjacent to Busch Stadium can be completed by the time St. Louis hosts the Major League All Star game in 2009.
That optimism comes despite the fact that Missouri officials are recommending about $9 million less in state assistance than was requested by the city.
Meanwhile, the state panel needed to approve the money declined to vote on the deal today. Instead, the Missouri Economic Development Finance Board is likely to take up the matter next month.
Continue Reading
I assume the renderings have not changed. And maybe we will get lucky and they will go ahead and get started. I would think if they believe that money will come in they could go ahead and get started. They likely won't, but I bet they could.
Ballpark Villages asks for $115 million
Officials from the city of St. Louis and the St. Louis Cardinals will ask the Missouri Development Finance Board Tuesday for $115 million in tax money for the proposed Ballpark Village.
The officials are meeting with the state board during its regularly scheduled meeting in Jefferson City, Mo.
The Cardinals and Cordish Co. are partners on the Ballpark Village development, which will encompass six blocks immediately north of Busch Stadium. The plan calls for a mix of residential, office, retail and entertainment components.
From Stl Business Journal
I'm confused, which amount is it?
Edit: Pulled that earlier today and left it in my tab for when I got some time. Seems the article was changed to the right amounts:
DED recommends $26.8M for Ballpark Village
The Missouri Department of Economic Development (DED) recommended Tuesday that the first phase of the Ballpark Village project receive $26.8 million for the first of two funding components, according to Chase Martin of Cordish Co.
Keep Reading (same link as above)
Officials from the city of St. Louis and the St. Louis Cardinals will ask the Missouri Development Finance Board Tuesday for $115 million in tax money for the proposed Ballpark Village.
The officials are meeting with the state board during its regularly scheduled meeting in Jefferson City, Mo.
The Cardinals and Cordish Co. are partners on the Ballpark Village development, which will encompass six blocks immediately north of Busch Stadium. The plan calls for a mix of residential, office, retail and entertainment components.
From Stl Business Journal
I'm confused, which amount is it?
Edit: Pulled that earlier today and left it in my tab for when I got some time. Seems the article was changed to the right amounts:
DED recommends $26.8M for Ballpark Village
The Missouri Department of Economic Development (DED) recommended Tuesday that the first phase of the Ballpark Village project receive $26.8 million for the first of two funding components, according to Chase Martin of Cordish Co.
Keep Reading (same link as above)
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Jrathert wrote:Ballpark Villages asks for $115 million
Officials from the city of St. Louis and the St. Louis Cardinals will ask the Missouri Development Finance Board Tuesday for $115 million in tax money for the proposed Ballpark Village.
The officials are meeting with the state board during its regularly scheduled meeting in Jefferson City, Mo.
The Cardinals and Cordish Co. are partners on the Ballpark Village development, which will encompass six blocks immediately north of Busch Stadium. The plan calls for a mix of residential, office, retail and entertainment components.
From Stl Business Journal
I'm confused, which amount is it?
Edit: Pulled that earlier today and left it in my tab for when I got some time. Seems the article was changed to the right amounts:
DED recommends $26.8M for Ballpark Village
The Missouri Department of Economic Development (DED) recommended Tuesday that the first phase of the Ballpark Village project receive $26.8 million for the first of two funding components, according to Chase Martin of Cordish Co.
Keep Reading (same link as above)
From your first link:
Officials from the city of St. Louis and the St. Louis Cardinals are seeking up to $115 million in subsidy for Ballpark Village from the city and state, including tax increment financing (TIF).
Looks like a combination of city, state, and TIF for the cool $115 million.
Cheers,
TFG
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I have to say I would have loved to see condos in the project. However if they keep the highrises I wouldn't be so disappointed. Hey I guess The Bottle District will have all the all the condos. (sarcasm) I am just tired of seeing West Nile Virus Lake there.
State financing is one of the final steps before construction can begin. But the team must still negotiate with the International Bowling Museum and Hall of Fame, whose downtown home currently sits on the development footprint of the Ballpark Village.
Plus this ominous comment from the Bowling hall of fame:
Patrick Ciniello, chairman of the museum's board of trustees and president of the bowling supply company QubicaAMF Worldwide, would say only "this matter is in the hands of our attorneys."
Hey, c'mon bowlers--help the millionaires out!!
MattnSTL wrote: I would think if they believe that money will come in they could go ahead and get started.
Yep, just like the casinos. First, they build a gazillion dollar facility, then they wait to see if their state license is approved. Tell me those guys don't know something about gambling!
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OK. Id like to compare this project to some of the other ones Cordish has done, mainly in Balitimore, KC, and Louisville. KC has TIF for the Power/Light district. Correct? Did the Baltimore and Louisville projects have similar financing, or were they entirely private. In which case, Id like to know how long it took these other projects from start to finish and then compare them to our BPV.
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Afftonguy78 wrote:I have to say I would have loved to see condos in the project. However if they keep the highrises I wouldn't be so disappointed. Hey I guess The Bottle District will have all the all the condos. (sarcasm) I am just tired of seeing West Nile Virus Lake there.
don't count on very many condos.
I just don't get it.Demand has to catch up with all the supply that's already rolling out. I think it'd be a smart idea to save condos for later phases. More business / jobs downtown are necessary for growth now. Just imagine the leverage we'd have in bringing companies in to this location...bpe235 wrote:Afftonguy78 wrote:I have to say I would have loved to see condos in the project. However if they keep the highrises I wouldn't be so disappointed. Hey I guess The Bottle District will have all the all the condos. (sarcasm) I am just tired of seeing West Nile Virus Lake there.
don't count on very many condos.
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anyone have figures one the # of resiential units in cordish's other large developments.?
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bpe235 wrote:don't count on very many condos.
I think it's still too early to say that. We still don't know what mix of condos, retail and office space will make up the first phase, much less the subsequent phases.
^ Very true. One of the most surprising things I heard back in April at the APA conference came from Rollin Stanley. When describing the BPV he pointed out the 250 condos in the first stage and then added something to the effect that these units were already selling well . Given some of the hyperbole in his talk I could never decide whether he was simply exadurating a bit or telling the truth. Sure wouldn't surprise me though if some of the 250 units in the first phase were already earmarked for prominent locals. If it is true that BPV units have been sold then I feel confident downtown will at least get the initial 250 or so units.
Still, while I would love to see the BPV be mostly residential, if it turned out to be mostly office space I would not be upset. Downtown could use such development.
Still, while I would love to see the BPV be mostly residential, if it turned out to be mostly office space I would not be upset. Downtown could use such development.
I haven't gone back and reviewed it, but I'm almost certain Channel 2's report last night said that condos were no longer included in the first phase.
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^
Interesting. I thought that the 250 condos that jmedwick made reference to were part of Cordish's contractual obligation. This is getting confusing - I hope we get some concrete plans fairly soon.
Interesting. I thought that the 250 condos that jmedwick made reference to were part of Cordish's contractual obligation. This is getting confusing - I hope we get some concrete plans fairly soon.
bonwich wrote:I haven't gone back and reviewed it, but I'm almost certain Channel 2's report last night said that condos were no longer included in the first phase.
I heard this on Ch. 5 as well, that the condos are officially out for phase I. I've checked their website but can't locate the report. It was the 6:00 news I believe.