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Friday, April 18, 2008
Brown Shoe anchors $568 million project
St. Louis Business Journal - by Lisa R. Brown
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COPYRIGHT © 2008 ST. LOUIS BUSINESS JOURNAL
Brown Shoe Co. is expanding its headquarters in Clayton within a massive $568 million mixed-use development that will be one of the largest commercial developments under way in St. Louis County.
The state approved subsidies this week for Brown Shoe's planned new global headquarters, on the heels of the company's two-year search effort that could have meant the loss of one of St. Louis' oldest and largest public companies. The state's approval moves forward Brown Shoe's plans for a headquarters that will anchor a mixed-use project with 1.25 million square feet of office space, 300 condos, a hotel and 70,000 square feet of retail space on the 12.5 acres where the company is based at 8300 Maryland Ave.
The project's development team, including Clayco Chief Executive Bob Clark, traveled to Jefferson City this week to make the case for $6 million in tax credits for the project. Details for the mixed-use project were presented to the Missouri Development Finance Board on April 15. The board, led by Chairman and Lt. Gov. Peter Kinder, unanimously approved the tax credits. Additionally, Brown Shoe's request for $8 million in BUILD bonds for construction was approved.
Brown Shoe anchors $568 million project
St. Louis Business Journal - by Lisa R. Brown
View Larger
Related News
- Famous Footwear HQ moving to St. Louis [Milwaukee]
- Brown Shoe headquarters to remain in St. Louis [St. Louis]
- No. 21: Clayco Inc. [St. Louis]
COPYRIGHT © 2008 ST. LOUIS BUSINESS JOURNAL
Brown Shoe Co. is expanding its headquarters in Clayton within a massive $568 million mixed-use development that will be one of the largest commercial developments under way in St. Louis County.
The state approved subsidies this week for Brown Shoe's planned new global headquarters, on the heels of the company's two-year search effort that could have meant the loss of one of St. Louis' oldest and largest public companies. The state's approval moves forward Brown Shoe's plans for a headquarters that will anchor a mixed-use project with 1.25 million square feet of office space, 300 condos, a hotel and 70,000 square feet of retail space on the 12.5 acres where the company is based at 8300 Maryland Ave.
The project's development team, including Clayco Chief Executive Bob Clark, traveled to Jefferson City this week to make the case for $6 million in tax credits for the project. Details for the mixed-use project were presented to the Missouri Development Finance Board on April 15. The board, led by Chairman and Lt. Gov. Peter Kinder, unanimously approved the tax credits. Additionally, Brown Shoe's request for $8 million in BUILD bonds for construction was approved.
-RBB
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