The largest sum, $10 million, has been given to Triple Net Properties, owner of 701 Market St., however the deal hinges on Peabody Energy Corp. renewing its lease within the facility. A portion of the money, roughly $2 million, will go toward improving and expanding the coal company's headquarters facility.
The company, whose lease expires at the end of 2011 has been actively seeking a new location and is said to be looking for 200,000 square feet. The company has been looking at suburban locations or considering a new proposed office tower by Koman Properties.
Other projects that received tax credits include:
The Lawrence Group received a $9 million allocation for its $100 million Park Pacific. The project, which has been on hold for a number of years, is renovating the vacant 450,000-square-foot building at 210 N. 13th St.
The city allocated $8 million to Green Street Properties for two of its projects; an industrial project at Carrie Avenue and Third Street and a redevelopment of the former Carondelet Coke facility.
Goodco received $7 million to renovate six buildings it owns in Lafayette Square.
The Regional Housing and Community Development Alliance has also received $7 million for the $24 million renovation of 3550-58 Gravois, turning it into apartments and retail space.
To read more from the St. Louis Business Journal click here.
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