SCP Worldwide currently owns the property, which sits at 1400 Market St. directly next to the Scottrade Center. The Kiel Opera House was initially declared blighted in the early 1990s, a designation that was taken away once the sports center was built next to it.
SCP, which also owns the St. Louis Blues hockey team and has a long-term lease on both the Scottrade Center and the Kiel Opera House, has wanted to redevelop the property into an entertainment venue, toying with plans for the last two years. But with the price tag between $40 million and $60 million nothing has moved forward.
If the Board of Alderman declare the spot blighted that will make the property eligible for tax abatement, an incentive that could move SCP to push plans forward.
To read the St. Louis Business Journal article click here.
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