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03.26.2008 10:07 am

Centene pulls out of Ballpark Village; is the project dead?

St. Louis Post-Dispatch
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We’re reporting now that “Centene Corp.’s much touted move to Ballpark Village in downtown St. Louis is dead.”

That’s according to the early version of our story on STLtoday here.

The company put out a news release today, coinciding with the release of documents the Post-Dispatch had requested two months ago related to the Ballpark Village project.

City leaders and Centene officials announced in September that the company would relocate its headquarters to the proposed retailing and entertainment district near Busch Stadium. Few details have been forthcoming about Centene’s $250 million proposal or the Ballpark Village development since then and speculation has been growing that Centene would pull out.

Now it’s happened. Are you surprised? What does this mean for the Ballpark Village project at large?

UPDATE: Here is the full text of Centene’s statement.

Ballpark Village was unable to accommodate Centene’s plans for our world headquarters which we deeply regret and are disappointed to announce. Since our announcement in September 2007 , we have been working closely with representatives of Ballpark Village to finalize details for this project.

Despite the best efforts of everyone involved, we could not bring our plans to fruition. We were committed and excited to move our headquarters downtown, as we recognize that Ballpark Village will help strengthen the region and we wanted to be part of this. We wish the Cardinals and the developers of Ballpark Village nothing but the best in their efforts to complete this important retail and mixed-use development.

We are currently resuming the evaluation of other potential options for the location of our corporate headquarters, both in and out of the region. We very much appreciate the commitment that leaders of this community, especially Mayor Francis Slay and his staff, have shown throughout this unusually long and public process. We remain hopeful that we can work together with local leaders to keep our growing company in the St. Louis region, if not downtown.

We will keep you updated as our search progresses.

ANOTHER UPDATE: Here’s the statement that just came out from the Cardinals and Cordish.

STATEMENT: ST. LOUIS CARDINALS AND THE CORDISH COMPANY

The St. Louis Cardinals and The Cordish Company believe that Centene would have been a great addition to Ballpark Village. We are disappointed that the parties could not come to an agreement, despite months of effort and the best intentions of the City, Centene, and the Ballpark Village team. Ultimately, the many complexities of Centene’s proposed project in Ballpark Village proved insurmountable.

We will now work immediately with the City and State to finalize all public approvals and commence construction of Ballpark Village. The Ballpark Village partnership is in the unique position of having its private financing in place, and we are ready, willing, and able to proceed. Our vision has not changed — Ballpark Village will be a world-class mixed-use project that will positively transform the City of St. Louis.

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182 comments

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Obviously the people contacted by Fox 2 News are liers and should be fired.

— Bill
12:21 pm March 26th, 2008

Why not put in one of those Lowe’s/Wal-Mart Power centers, they always seem to get the deal done. Prolly get a Q’doba and Starbuck’s in there too. It will look just like the rest of beautiful St. Louis!

— Buah
12:24 pm March 26th, 2008

An absolute joke this city has become. We should all be protesting and boycotting the Cardinals and the city of St. Louis. They are both at fault is this situation. Also, enough is enough with Mayor Slay. What has he really done for this city? Crime is still on the rise, corporations and jobs are leaving this city at an alarming pace and there is no new development to speak of except for thousands of lofts which are going to remain vacant because there is NOTHING to do downtown. I am truly embarassed to call myself a resident of St. Louis. What a joke.

— JR
12:29 pm March 26th, 2008

Just took a peak at CNN’s top 100 cities to live and start a business in……guess who wasn’t on the list, St. Louis or anywhere is the surrounding area. I can’t for the life of me understand why………(small the sarchasm). We are the laughing stock of the midwest. I shutter to think what would happen to this town if A/B ever thought about leaving. Talk about ghost town.

— JR
12:36 pm March 26th, 2008

not enough people will go down town and risk coming out alive . last one out turn out the lights.

— billy bob
12:36 pm March 26th, 2008

I think everyone needs to calm down a little. We may have dodged a bullet here. All of the earnings tax and sales tax these Centene employees would have brought to the table would have been used to pay for the project. The city (meaning me the taxpayer) would not have profited financially from this for years - like probably 15.

Since they announced their move Centene’s stock is down 50% and they’ve had “accounting issues”. In my opinion, there is a good chance we (the taxpayer) would have built them this nice building and in less than 10 years they would have been bought and moved or had massive layoffs anyway and stuck it to the city.

You can’t say no when a Centene shows interest to move downtown, but this was never going to have a happy ending for the St. Louis taxpayer, in my opinion. We should have then, and should now, push forward with the original plan for BV and light a fire under the cardinals’ @$$ to get it done.

— mike
12:37 pm March 26th, 2008

The mayor is doing the best with what he has to work with. Would you rather turn the clock back with Freeman Bosley Jr, or Clarence Harmon. At least there is some progress. The mayor and the city is not to blame for this situation. The Cardinals ownership group is behind schedule, and lying to the citizens of St. Louis. What are we going to do about it? GO CARDS! Buy more tickets, buy more concessions.

— Ryan
12:37 pm March 26th, 2008

Ballpark Village is definitely a huge project that I do not think St. Louis is quite ready for yet. Why doesn’t the city focus on some other historic/tourist areas in St. Louis that are falling apart due to the city’s lack of attention, i.e. The Landing? It’s my favorite place to meet friends, eat, drink and listen to some great music. On the other hand, it is falling apart and could really use some of the city’s assistance. Although, I think the city can lay off some of the parking ticket deputies. They are ridiculous down there.

— Danielle
12:42 pm March 26th, 2008

#56 Mike,

Excellent points. The Centene deal is over (possibly for the best). Let’s now focus on making sure the BV doesn’t also fall through.

— Anonaman
12:48 pm March 26th, 2008

This is much more about corruption that ineptness. Remember not long ago eminent domain was used at Gentry’s Landfill (I mean Gentry’s Landing) because the developer promised a new condo tower. The project looks worse than ever. The real investors stay away from St Louis because they know this City is all about cronyism. Until we get a new administration nothing can be accomplished in St. Louis.

— libertarian at heart
12:56 pm March 26th, 2008

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