Pace proposes $79M retail, residential expansion in STL

Developers of The Boulevard-St. Louis submitted a $78.9 million expansion plan to city officials seeking to add more retail, office and residential space to the Richmond Heights development located across from the St. Louis Galleria mall.

Brentwood-based Pace Properties wants a 1-cent sales tax in the form of a newly created transportation development district to recoup an estimated $3.3 million in costs for the project. A Richmond Heights’ city commission recommended an additional $15.3 million in tax-increment financing to city council prior to its vote, scheduled to take place in January.

The Boulevard’s first phase, which opened in 2004, comprised 123,000 square feet of retail and restaurant space, as well as 74 apartments. The proposed expansion would add 90,000 square feet of retail space and 28,550 square feet of offices, plus 165 residential units and 900 parking spaces.

Read more from the St. Louis Post-Dispatch.