Ballpark Village Questioned After Centene Pulls Out Of Project
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Centene Corp. Pulls Plans To Put
HQs In St. Louis' Ballpark Village |
Missouri-based Centene Corp. yesterday said that it will no longer relocate its HQs to the proposed Ballpark Village development near Busch Stadium, and "frustrated city officials find themselves wondering what went wrong, and whether an ambitious project like Ballpark Village is even possible in the current economy," according to a front-page piece by Jake Wagman of the ST. LOUIS POST-DISPATCH. While Centene's withdrawal is "not necessarily a fatal blow" to the project, St. Louis Alderman Fred Wessels is "questioning whether the Cardinals need to tear up their current business arrangement" with Baltimore-based developer Cordish Co. Wessels: "In my opinion, Cordish has not performed. As difficult as it might be at this time, I think the Cardinals and the city should look at another developer." Wagman notes Ballpark Village has been "beset by delays," and the Cardinals "will endure a third season with a crater of dust" next to Busch Stadium. If the first phase of Ballpark Village is "not up by 2011, the team is on the hook for an annual $3[M] penalty to the city." The Cardinals and Cordish in a joint statement said, "Our vision has not changed" (ST. LOUIS POST-DISPATCH, 3/27). The Cardinals and Cordish said that they will "work immediately with the city and the state to finalize all public approvals and commence construction of Ballpark Village, which has its private financing in place" (BIZJOURNALS.com, 3/26).
OUT OF THE VILLAGE: In St. Louis, Riddhi Trivedi-St. Clair notes Centene had planned to acquire two blocks within the six-block Ballpark Village for a new HQs and "office and retail space for tenants, along with 1,750 parking spaces." However, Cordish Co. and the Cardinals, and Centene "could not hammer out a development agreement spelling out the timeline of the project, its precise components and how it would fit in with Ballpark Village" (ST. LOUIS POST-DISPATCH, 3/27).
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