ST. LOUIS, MO. – Earlier this week, the Land Clearance for Redevelopment Authority of the City of St. Louis (LCRA) — a development board staffed by the St. Louis Development Corporation (SLDC) — closed on its acquisition of a building and 29 vacant parcels at 3940 Dr. Martin Luther King Drive in St. Louis, Mo. SLDC plans to stabilize and transform the 150,000-square-foot industrial building that is situated on 15 acres into a workforce training hub for manufacturing and other high-paying, in-demand jobs.
“We are so proud to plant our flag in the heart of North City as an anchor along one of the corridors where our redevelopment and Economic Justice efforts are centered,” said SLDC President & CEO, Neal Richardson. “This is a long-term investment in the future of St. Louis, and we look forward to opening our doors to the community in 2024.”
Get The Latest News!
Don't miss our top stories and need-to-know news everyday in your inbox.
SLDC will work with partner agencies in the St. Louis region to ensure programming at the facility complements and leverages training efforts already underway in the area. It will be an extension of the Advanced Manufacturing and Innovation Center (AMIC) nearby, providing opportunities for entrepreneurs and startup businesses to make prototypes of their products and prepare to scale up production.
The multi-sectional building is ideal for the intended uses, since it has office, manufacturing and warehousing space, along with loading docks. The manufacturing component, which is essential for workforce training and business development, adds to the building’s appeal.
Funds for the acquisition, stabilization and redevelopment of the property were provided by Coronavirus State and Local Fiscal Recovery Funds (SLFRF) passed through the St. Louis City Community Development Administration.
About St. Louis Development Corporation (SLDC)
St. Louis Development Corporation (SLDC) is the independent economic development agency serving the City of St. Louis, Missouri. It is an action-oriented organization that exists to empower, develop and transform St. Louis through a vibrant, just and growing economy where all people can thrive. Learn more at developstlouis.org.
More like this: