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Downtown projects in downtown St. Louis, Missouri are under the Downtown Development Action Plan, which has created the new Major League Baseball stadium, hotels, and a convention center among others. Several plan disappointments and effort on plan updates for urban revitalization are discussed.

St. Louis Centre has a new group of developers that started on a $31 million conversion of the 540,000-square-foot building into street-level retail and parking garage. Missouri's Development Finance Board has closed on the financing for the enclosed urban mall's conversion, as part of the plan called Mercantile Exchange. Insights on St. Louis Centre's history are also given.

St. Louis, Missouri's pizzerias have continuously grown and many look for new locations in spite of the 6 percent drop in pizza sales nationally. The recession has affected the $37 billion pizza industry's revenue but local independent pizzerias typically perform well during recessionary periods. Insights on chain stores' reaction to the growing St. Louis market are also given.

Analysts are worried on whether Missouri's St. Louis market can sustain the casino industry with Pinnacle Entertainment Inc.'s opening of the seventh one, River City Casino, in Lemay. Pinnacle operates another St. Louis casino, called Lumiere Place. Lumiere Place's market performance and Pinnacle's $4 million annual rent are discussed.

Clayco, along with Legacy Building Group, has been contracted to construct the $130 million patient tower, entryway and garage of the Missouri Baptist Medical Center (Mo Bap) in the city Town & Country. The tower project is the initial phase of a multiyear proposal to add almost a million square feet to Mo Bap. An integrated project delivery process will be used by Mo Bap to monitor project costs.

The city of St. Louis, Missouri, is emerging as a hub for algae fuel research, with institutions in the city gathering $45 million in research grants. Research is focusing on the feasibility of mass-producing cyanobacteria for use as fuel for airplanes and hybrid vehicles.

Charlotte, North Carolina-based developer Afshin Ghazi will not give up the fight to finish his EpiCentre mixed-development project. The project has encountered problems with lawsuits, missed deadlines and unpaid bills. Ghazi has sued several tenants and also managed to settle three lawsuits.

The sales of luxury condominiums in St. Louis, Missouri have declined by 66%. Tightening of lending standards is seen as a reason for the slump in the market. Condominium developers' moves to counter the market decline are also detailed.

Real estate development projects in St. Louis, Missouri, are struggling for financing with the tightening lending standards brought about by the credit crunch of 2007. The tightening in credit means that only a few developments are expected to move forward in the short term.

Office of Administration Mike Keathley used his skills as a businessman to improve real estate in Missouri. Keathley's efforts have gained $20.9 million in sales of Missouri underused properties, and $14.4 million in lease payment savings for 2007. Real estate developments in Missouri are discussed.

The home building sector of St. Charles County has listed a 10-year low of 1,853 applications for building permits for new homes through July 2007. There are currently 2,926 homes on the market with a higher average list price of $295,777. The outlook of the sector, as exhibited by housing development projects discussed, is given .

Condominium sales in downtown St. Louis have grown in 2007 compared to sales in 2006. However, sales cannot keep up with the rate of condominium development, with 535 new condominiums planned to be constructed by the end of 2007. Details of upcoming condomimium projects and prices of downtown condomoiniums are presented.

Lester Miller was able to sell NorthStar Battery to Sweden's Altor Equity Partners after just seven years of the company's existence. Lester Miller's last divestment of Contico International and other companies earned him $350 million.

A new four-lane bridge on Grand Avenue in St. Louis, Missouri, slated to be built by 2008 would connect the two sides of St. Louis University's expanding campus. The city has requested 80 percent of the funding for the $25 million project from the Federal Highway Administration and would raise the balance locally.

Centene Corp. has trimmed down potential locations for its new headquarters to five, including three sites in Saint Louis. Its initial plans for a $210 million headquarters in Clayton were cancelled when the Missouri Supreme Court decided that Centene cannot use three of the properties it wanted to buy. Background of Centene is supplied.

Subcontractors have benefited from the increase in downtown construction projects in St. Louis, Missouri. Construction projects include The Laurel, One City Centre and the Park Pacific. The projects will provide a combine 1,600 construction jobs.

The construction of the St. Louis, Missouri commercial development called Park Pacific will restart after its developer closes in on a $109 financing deal for the project. The AFL-CIO Housing Investment Trust will fund the developer, Parkside Tower LLC, with a $63 million loan.

Real estate speculator David Jump has bought one of downtown St. Louis, Missouri's largest vacant properties, the Jefferson Arms. Pyramid Cos. had owned the building which hosted the 1916 Democratic National Convention until Citicorp foreclosed on it in 2009. Insights on Jump's previous real estate speculation activities are also given.

The Beaux Arts complex, a vacant site in Grand Center in St. Louis, Missouri, is to be revitalized as a visual and performing arts school for the Grand Center Arts Academy. Details on the facilities covered by the $21.4 million conversion are discussed.

Stacy Hastie, chief executive officer of Environmental Operations Inc., has taken ownership of One City Centre and Arcade, two of the troubled properties in downtown St. Louis, Missouri. The buildings were sold through foreclosure, with Hastie bidding for Arcade for $9 million and bidding for Once City Centre with an investor group for $12.7 million.

Freeman Homes has spent more than $11 million to purchase more than 100 homes and lots in Sunset Hills, Missouri in an attempt to boost presence in local homebuilding market. As some of these homes will be renovated, majority of the homes will be demolished to give way for new homes priced at least $240,000. Meanwhile, some apartment buildings acquired by Freeman will be converted into condos.

Fidelity National Financial has confirmed the closure of subsidiary Commonwealth Land Title Insurance Co.'s office in Clayton, Missouri, as part of its move to consolidate operations nationwide. The Clayton office's 15 employees will also lose their jobs since they were no longer employed by the company. Insights on Fidelity's cost cutting measures are also given.

Sappington Square LLC, developer of the $13 million the 60,000-square-foot similarly-named retail strip center in St. Louis, Missouri is being faced by foreclosure proceedings filed by lender Pulaski Bank in November 2009. Pulaski Bank has also filed a breach of contract lawsuit against the developer, while the retail center is scheduled for sale via a public auction on December 23, 2009.

Kansas City, Missouri-based law firm Stinson Morrison Hecker has signified its intention to lease 46,500 square feet of space in Clayton, Missouri's 17-story Centene Plaza office building for 15 years. At a rate of $32.50 per square foot, the lease will be worth about $22.6 million. Stinson will be relocating its 50 lawyers and 50 staff members to Centene Plaza in October 2010.

About two-thirds of the 49 public companies in St. Louis, Missouri have amassed almost $21.8 billion in cash reserves combined as of December 2009. For the said companies, the amount indicates a 56 percent increase from the start of the 2009. Express Scripts, Monsanto, Emerson and Charter Communications are the companies that surpassed the $1 billion mark.

The growth of Gateway EDI is driven by a national trend towards electronic medical claims processing. The company is hiring 60 employees and expanding its lease to include an additional 22,724 feet of office space.

Peabody Energy Corp. is considering the Ballpark Village development in downtown St. Louis, Missouri as the location of its planned 200,000 square feet of office space. More than 500 employees could be possibly relocated to Ballpark Village by the private-sector coal firm. Ballpark Village's tenants will be named by December 2009 and it could be occupied by 2012, at the earliest.

St. Louis' Chess Club and Scholastic Center has expanded to over 500 paying members. The club will also host the U.S. Chess Championship in 2010 and the U.S. Women's Championship in 2009. How the chess club helped improve the city's popularity in the field of chess is discussed.

Sunrise Senior Living has announced that it is canceling plans to remodel Clayton on the Park as luxury apartments with assisted-living services for seniors. Following the announcements, Acme Constructors and O.J. Laughlin Plumbing Co. filed liens for $81,734 and $433,572, respectively. The project is a partnership between sunrise and real estate developer Bob Saur.

Governor Jay Nixon did not support St. Louis Mayor Francis Slay in the mayoral election. Despite both being Democrats, the rift appears to increase the distance between the governor's office and the St. Louis city hall and some are wondering about its impact to St. Louis as it emerges from the economic slump.

The Missouri Housing Development Commission has announced the approval of the funding for 23 housing projects statewide. The St. Louis area is awarded with $18 millon in gap funding for eight of its housing development projects. The federal stimulus is expected to jump-start the construction of senior or affordable housing units.

Fenton city officials have started an effort to transform the closed Chrysler assembly plants in Fenton, Missouri into an alternative-fuel vehicle production site. They are asking for a federal grant to conduct the market analysis. The city has agreed with St. Louis County to shoulder the remaining 30% of the $2.1 million study's cost, once the grant is approved.

Developer Paul McKee Jr. is negotiating with the city of St. Louis, Missouri to guarantee bonds that will be very crucial to finance his $1.8B construction project. The city government has already backed bonds for similar projects before but the outcome has not been very good.

Officials of the Saint Louis Public Library are going forward with their plans for major renovation, amounting to $70 million. The contract was finalized with BSI Constructors and the renovation project is set to start by mid-2010. Funding for the public library will also be coming from leases obtained from the Confluence Preparatory Academy.

Ramius LLC, one of CPI Corp.'s largest shareholders with 17.4% stake, wants to sell CPI due to its declining stock price, which closed at $1.01 in May 20, 2009, the highest since September 2008. CPI stated that Ramius have been pressing the company board on the sale. Ramius has one representative, Peter Cohen, on CPI's five-member board of directors.

Retail companies at the intersection of Clayton Road and Brentwood Blvd. in the crossroads of Clayton and Richmond Heights, Missouri are going bankrupt and closing down, leading to a decline in Richmond Heights' sales tax revenue from $10.1 million in 2007 to $9.1 million in 2008. Retail sector status in Clayton and cancellation of retail developments are discussed.

Missouri representative Jason Grill is making efforts to boost the state's film tax credit to $10 million for 2010. But Grill's bill is seen to encounter difficulty in the state legislature. The push to increase film tax credits in the state has garnered bipartisan support.

President David Jump of American Milling Co. purchased 500 acres of riverfront land in Cahokia, Illinois for his barge business. Jump said that American Milling is constructing the barge facility and that it will be primarily for exports and bulk commodities that arrive by truck and rail.

Commercial properties in Missouri's St. Louis metropolitan area classified as foreclosed or at risk of being foreclosed are now at $726 million, with Real Capital Analytics identifying 45 local properties as such in a recent research. Details on the value of St. Louis properties classified as troubled, potentially troubled, and lender foreclosed are presented.

Real estate developers are vying for projects in the Grand Center redevelopment plan in Missouri. Grand Center Inc. is evaluating the proposals submitted by the developers. The project includes the construction of a hotel and the redevelopment of the Metropolitan Building.

SCP Worldwide, owners of the St. Louis Blues, plans to spend $50-60 million to restore Kiel Opera House. Construction is projected to start in the summer of 2009 and could be completed by the fourth quarter of 2010.

Law firm Husch Blackwell Sanders is moving out of St. Louis, Missouri, but the city is seeing new office market opportunity with the development of the Ballpark Village by co-developers Cordish Co. and the St. Louis Cardinals. Approval is being sought for the $600 million development, which will feature an entertainment and office complex.

Local hotel developers in St. Louis, Missouri are expressing interest in buying the Renaissance Grand Hotel and Suites as it has been announced that it is to be auctioned off in February 2, 2009 due to foreclosure. Analysts say that the downtown hotel could sell for just about $50 million, considering the current economic slowdown.

Newly-appointed Missouri Department of Economic Development director Linda Martinez will focus on worker training. The effort will specifically target the automotive industry. Governor Jay Nixon said Martinez will help implement his Show Me Jobs program.

The government of St. Louis, Missouri is $4.3 billion from federal legislators to be used in in public projects. City officials are not expecting to get the whole package from president Barack Obama's economic stimulus plan. Details of the government's projects are also presented.

Lipton Realty Inc. has agreed to sell the vacant property on the corner of Hanley and Clayton road to Cullinan Properties Ltd. Lipton Realty chairman Donn Lipton owned the former Schnucks property for a quarter century. Possible development plans for the property are also discussed.

The city of St. Louis, Missouri, sold $21 million in bonds to finance the renovation of Cervantes Convention Center in the city's downtown area. Proceeds from the bond offering will finance the replacement of elevators and escalators, and the addition of steam chillers, gas boilers, and interior signage.

St. Louis Municipal Library District board is planning a $45 million renovation cost for its facility. Pooling for the capital is still on going coming from tax-exempt bonds, tax credits as well as private corporations and individuals. Details of the plan are further discussed.

BJC HealthCare and Missouri Department of Transportation are partnering to construct a new interchange that would help ease the traffic congestion in the company's area. The contract requires BCJ to pay $8 million of the $16 million interchange cost. Details of the deal are further discussed.

Chrysler LLC's cost-cutting measures in its Fenton, Missouri plant have caused some of its suppliers to shutdown their operations. The shutdowns are seen to represent the loss of hundreds of jobs for the region. Suppliers flocked to the area following Chrysler's announcement of a $1-billion modernization program.