The St. Louis Port Authority last week passed a resolution that could bring a major Mississippi riverfront development to north St. Louis.
The potential project could bring the city’s first marina to the riverfront. It would also add a hotel, waterpark and indoor trampoline park to a 70-acre plot of land north of Interstate 270, just within city limits.
The resolution allows the developer, Nashville-based M2 Development Partners, to pay the city to negotiate incentives that would help the company buy and develop the land. The company could seek tax abatements and other incentives and ask the city to prepare the property, St. Louis officials said.
The resolution shows both city officials and the property developers are serious about the plan, said Neal Richardson, executive director of the St. Louis Development Corporation.
The proposed Lighthouse Point development would be similar to planned projects in Nashville and other cities, said Tim Morris, managing principal of M2 Development Partners.
The stretch of relatively quiet riverfront in north St. Louis is a similarly underestimated resource, he said. “I think this is a trend where people are going in and looking at the waterfront and how to best revitalize it,” he said.
St. Louis residents have called for a marina in the city. There are 21 marinas between St. Charles and Alton but none within city limits.
The site’s proximity to the future St. Louis Zoo WildCare Park is also a major draw, Richardson said.
This article was originally published in St. Louis Public Radio. The article can be found here.
