By Gabe Bullard
Filed Tuesday, October 16, 2007 at 7:30 PM
Governor Matt Blunt has announced that Parkside Towers, LLC will receive $5.1 million in redemption tax credits. The credits come as part of the Department of Economic Development's (DED) Brownfield Redevelopment Program, which gives incentives for the redevelopment of contaminated and underutilized commercial and industrial sites. According to Blunt's office, the property is currently contaminated with asbestos and lead-based paint.
Parkside is receiving the incentives for their plan to redevelop the Park Pacific property at 210 N. 13th Street. Missouri Pacific Railroad abandoned the property in 2003 and Parkside plans to turn the property into commercial, retail and residential space, including restaurants, offices and condos.
Labels: Development, Tax_Credits
4 Comments:
It's hardly accurate to say the RR "abanoned" the property.
There were RR office workers smoking outside its entrances as recently as a year or so ago.
A deal to develop the property as condos with a new tower is just that - a deal.
Asbestos and lead paint abatement getting help with brownfield tax credits. Yup. Missouri is the tax credit leader!
10/16/2007 8:05 PM
This just seems so wrong,wealthy developers on the public dole again so they can make even a bigger profit!
10/16/2007 11:03 PM
So what is the other option? Let the property sit there until it is falling apart and then someone comes along and buys it for cheap and sits on it some more.(Bellington?) It is better to restore the building, fill it with employees and generate more business for the area.
10/17/2007 6:23 AM
No!
10/17/2007 8:21 AM
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