St. Louis mayor signs measures for development

AP News
Posted: Nov 18, 2009 10:54 AM

St. Louis Mayor Francis Slay says the large scale of developer Paul McKee's plans for a north side redevelopment should be a key to the project's success.

Slay on Tuesday signed two bills that set a redevelopment area and redevelopment plan for the 15-year project.

McKee plans to work with other developers to turn crumbling sections of north St. Louis within a 1,500-acre area into revitalized neighborhoods anchored by business centers.

Slay said the scope of the project will allow for a planned, sustainable community that will include new jobs. One early aspect of the development will be renovations to the Clemens House, a historic property that will be turned into senior housing and a museum.

The city hasn't yet committed to guaranteeing part of the tax increment financing on the project.