Tax credits approved for downtown project

The Missouri Department of Economic Development announced this morning the approval of $289,726 in tax credits through the state’s Brownfield Redevelopment Program for the redevelopment of the 26,000-square-foot building at 124 Park Central Square, formerly the music venue Rockwell.

Square Guys LLC, led by downtown developer Craig Wagoner, bought the Kresge building in October 2005 and plans to create commercial space on the first floor, which will house a downtown branch of the Springfield-Greene County Library District and possibly a coffee shop, Wagoner said. Residential lofts will fill the second floor.

When finished, the building is expected to create 51 jobs, including library personnel and retail workers, Wagoner said.

The building meets the under-utilization requirements of the Brownfield Redevelopment Program and was accepted into the Department of Natural Resources’ Voluntary Cleanup Program last December.

Cleanup on the project began last week, and completion is slated for September.