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SBD/August 10, 2011/Facilities
Published August 10, 2011
STARTING FRESH: On Long Island, Randi Marshall reports a "new local task force organized by a major real estate group came together Tuesday to generate ideas for developing the land around Nassau Coliseum." Spiegel Associates CEO Alan Eidler, whose real estate company is hosting the meeting, said the group, called Clean Start, will produce a "road map that's workable, that's practical (and) that's innovative." Eidler indicated that the task force by Labor Day hopes to "present ideas to help guide the county in crafting its request for proposals for the site" (NEWSDAY, 8/10).
IT TAKES A VILLAGE: In St. Louis, Tim Logan reports Stifel Financial Corp. yesterday said that it "plans to buy its downtown office building and stay there." The announcement means Stifel "won't be moving a few blocks south, to the Cardinals' Ballpark Village, leaving the team stuck once more with no tentpole tenant for [its] long-stalled project." Logan notes the decision "likely means an even smaller, more-delayed Ballpark Village." Cardinals President Bill DeWitt III said that the team plans to "move ahead with the retail -- likely some sort of museum and entertainment venues -- and a small amount of office space" (ST. LOUIS POST-DISPATCH, 8/10).
'CAT HOUSE: In Arizona, Rob O'Dell reports the Univ. of Arizona baseball team "could soon have a new home at Hi Corbett Field at Reid Park." Under the proposed lease agreement, the school "would pay $250,000 a year to become the major tenant for five years, with a five-year extension at the school's option." The rent "would be subject to a 3 percent annual inflation escalator." UA would "make substantial improvements" to the property, and AD Greg Byrne has indicated that the school "could put as much as $5 million into the stadium, although there is no dollar figure" included in the Tucson City Council's letter of intent authorizing the agreement. City attorney Mike Rankin said that UA would have to agree "if a major-league team wants to come to Hi Corbett for spring training" (AZSTARNET.com, 8/10).