As a mature community, the City has and will continue to focus heavily on redevelopment efforts. The City released a
Request for Redeveloperment Proposals (RFP) for a 229 acre site directly adjacent to Lambert St. Louis International Airport. Additionally, in November of 2005 City residents approved a 1/2 cent
Economic Development Sales Tax to further economic development projects within the City. The Board of Aldermen have adopted a
plan for putting these funds to use
Finally,
Somera Capital Management purchased Northwest Plaza Shopping Center (A 1,000,000+ square foot regional shopping mall located within the City.) from Westfield Corporation. Somera has developed a plan to to reconfigure the mall into a modern "Lifestyle" Center and has partnered with
Zelman Development Corporation,
General Growth Properties and
Callison Architects to move this $250 million dollar project forward with the help of the City through the use of Tax Increment Financing.