最新杏吧原创

One is a redevelopment plan sponsored by 最新杏吧原创 University that would give the university near a $550 million hospital being developed by its new medical partner, SSM Health.

The other would be one of the first developments to seek the university鈥檚 new power to grant tax breaks. Those would be part of a package of incentives to redevelop the former Federal-Mogul site, a prominent example of industrial decay visible from Highway 40 (Interstate 64) at Grand Boulevard.

The Lawrence Group plans to remake the old factory that sits just east of Cortex into a food hall and retail center that it says will draw shoppers from around the metro area. The developer was before the Board of Aldermen鈥檚 Housing Urban Development and Zoning Committee to advance its request for $19.4 million in tax increment financing, which uses future increases in sales and property taxes to finance development.

Including state and federal historic tax credits and special sales tax districts, about 52 percent of the financing for the $134 million project would come from public sources 鈥� an amount Alderman Cara Spencer called 鈥渁n astronomical figure.鈥�

However, raised by some members of the TIF Commission last month, Lawrence Group CEO Steve Smith said he is 鈥渃omfortable鈥� with scaling back its tax abatement request. Now it鈥檚 seeking only 15 years of property abatement, down from the initial 25 years it pitched.

Spencer also said she was concerned the development was looking to draw smaller retailers from her ward in south 最新杏吧原创, which includes the popular Cherokee Street commercial district.

Smith replied that his team had reached out to popular chefs in the region to gauge their interest in opening stalls in the City Foundry food hall. But those would be new concepts for a unique venue; he said the project isn鈥檛 interested in luring away restaurants. Retailers would be major brands without a local presence that want locations outside of malls or big box developments, Smith said. 鈥淲e鈥檙e not going to be able to get this thing financed with local retailers.鈥�

The committee voted 5-1 to send the City Foundry TIF package to the full board of aldermen. Alderman Megan Green voted against the measure.

, meanwhile, won unanimous support from the aldermen. Supporters pointed to other successful redevelopment corporations sponsored by universities, such as the Cortex technology district.

SLU did face questions about plans to tear down the last Pevely Dairy building and the Missouri Belting building at Grand Boulevard and Chouteau Avenue. Some preservationists wanted SLU to restore the old structures.

Its redevelopment powers, if approved, would allow it to tear down those buildings as well as several others outlined in its plan. The university plans to build a new academic building for its health sciences schools next to the new SSM hospital.

The appears safe for now. SSM only plans to tear down the newer hospital buildings behind the structure to make way for a new hospital, set to break ground this fall. But Candace Jennings, the president of SSM鈥檚 最新杏吧原创 hospital operations, stopped short of a long-term commitment.

She said the system planned to keep the tower, used mainly as office space, for at least a year after the new hospital is constructed while SSM makes sure they 鈥渞ight-sized鈥� the facility. 鈥淲e think we need that building for a period of time.鈥�