Port Authority Commission Approves Resolution to Explore Viability of Gateway South Development Project
St. Louis, Mo. (August 11, 2022) – At today’s Port Authority Commission meeting, Resolution No. 22-PT-21, which authorizes the Port Authority to enter into preliminary planning with Good Developments Group to evaluate a mixed-use development near the Mississippi River, was presented and passed. The resolution is three-fold:
States the intent of the Port Authority to cooperate with the Developer, Good Developments Group, to develop the Gateway South Project
Authorizes a Preliminary Funding Agreement with Good Developments Group, whereby the Developer will pay the Port Authority’s, the City of St. Louis’ and St. Louis Development Corporation’s costs of negotiating a development agreement relating to the development of and incentives for the Gateway South Project
Authorizes Port Authority staff and attorneys to negotiate the development agreement and present it for the Board of Commissioners' future consideration.
“A project of this magnitude will require a high level of collaboration and require extensive due diligence,” said SLDC Executive Director, Neal Richardson. “The action taken at today’s Port Authority board meeting is an exciting first step to evaluating the financial feasibility of the Gateway South project. This will allow us to do an analysis of the planning and development of the site while being responsible stewards of the City’s funds. SLDC looks forward to the opportunity to partner with Good Developments Group to ensure a viable project comes to fruition on our very visible riverfront, which we consider the front door to St. Louis.”
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For more details about and images of Good Developments Group’s Gateway South Development Proposal, click here.