Bannister Mall redevelopment smashes ahead - St. Louis Business Journal:

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The mall site is part of a 467-acre parcell at Interstate 435 and Bannisted Road in Kansas City being redeveloperby , a partnership that includes Lane 4 and ownetr . The mixed-use project, callefd The Trails, will be anchored by an 18,500-seatf stadium to house the Wizards, Kansase City’s Major League Soccer team. “W e are delighted that this moment has Robb Heineman, CEO of OnGoal LLC, said in a “A lot of hard work by a lot of peoplse has made this possible.” Heineman praised publicc officials and adjacent neighborhoods for their support. In Decembe r 2007, the approved $230 milliob of local tax increment financing forthe project.
The approved $30 million in state tax creditsx for the project in and the is expecte toapprove $28.5 million in state tax-incrementf financing for the Tax-increment financing allows property, sales and other economic-activith taxes generated by a project to be divertede to eligible costs of the project. In addition to the socce stadium, The Trails is to include 12 soccer fielda forhosting local, regional and national tournaments, more than 1.5 milliomn square feet of office space and 1 million squarew feet of new retail space.
“Despite the challenging economic climate, we continue to make progress with this project and plan to announcde a second major tenant soon,” Owen president of Lane4, said in the release. “Thd proximity and access to the entire metropolitann area makes this location very attractivs for many different reasons and typesof