SPRINGFIELD, Mo.– An empty lot on St. Louis Street in Springfield could soon get an upgrade. All it’ll take, developers say, is $50 Million worth of tax breaks.
College Town International (CTI), the organization behind the proposed development at 505 St. Louis Street, is looking to build what some will see as an apartment building and what others will see as a necessary space-filler for one of the towns greatest eyesores, the gap between the Old Glass Place and an adjacent U.S. Bank.
Sarah Kerner, Springfield’s Economic Development Director, says she can see where the latter is coming from.
“As far as benefitting downtown, I think filling in the gap between the Expo Center and the businesses that are kinda in the core of downtown is a really positive outcome that this project could have,” Kerner said Tuesday.
“Just because people who are the Expo Center visiting from out of town don’t always feel comfortable walking past a lot of vacant lots to get to restaurants and stores and everything downtown so that would be beneficial.”
Before the project launches, CTI will be looking to City Council to approve its tax break proposal.
The tax break plan is scheduled to be proposed to City Council in late October.
This is a developing story.