urbanSTL

Developer drops suit against St. Louis entity, citing 'goodwill' after leadership transition

https://www.bizjournals.com/stlouis/new ... issed.html

Bryant, in an email Tuesday, said his decision to have the lawsuit dismissed “serves as a gesture of goodwill,” citing recent leadership changes in city government, including Mayor Cara Spencer, who took office in April, and Otis Williams, who became interim executive director of city development nonprofit St. Louis Development Corp. in early May. SLDC staffs LCRA.

“In order to engage in a constructive dialogue about progressing, I had to withdraw the lawsuit that was initiated during the prior administration, eliminating the shadow of legal action hanging over us. We are optimistic about reaching an agreement without the need to re-file,” Bryant said. “We are seeking communication over litigation... I currently have complete faith that with Mr. Williams and Mayor Spencer, we can advance this community effectively.”

Let's get this going!

^ That's a fair opinion.  And upon further reflection and considering the devastation of the tornado, I could be convinced on the city backing bonds in certain cases. But it would have to be thoroughly vetted and part of a community driven, comprehensive tornado recovery plan. Perhaps elements of this proposal could be fit into such a plan.

Sounds good, but people need housing now, not planning that takes a few years.

^ They do, But what's been proposed doesn't address that immediate and short term need.

No, of course not. It's been delayed so much.

^ Looks like we had a bit of dialogue on backing TIF on the previous page when the issue became public  up as well, and it sounds like we're largely on the same page.  Anyway, I've appreciated your thoughts and imo there may be times when backing TIF is appropriate, but it has to go through the legislative process from the get go. And I did take a look at the authorizing ordinance and it indeed was affirmed by the developer that the City would not back the TIF.  This isn't something that the Comptroller has mercurial powers over.  

Also fwiw, per the city total outstanding debt on TIF bonds  was $577M at the end of the 2024 FY.  Ballpark Village and Cortex are the main ones, with over $100M each.

https://www.bizjournals.com/stlouis/new ... pment.html

$8 million redevelopment of the Mavrakos chocolate factory is moving forward.

Sara Stock has purchased the property for $890,000 and plans to turn it into a mixed use development that will have office and retail.

Stock Legal will relocate to the building from its current Central West End office and Legal Back Office will move from South County.

The development will have leaseable space for stores and restaurants, a gym, and a 6,000 square foot co-working space.

Nice. Sure hope they restore the entire facade.

quincunx wrote: ↑

Aug 24, 2025

$3.9M building permit application submitted for office/retail at 4709 Delmar by Jassen Johnson

Issued