A nearly 10-acre, tent-filled stretch of Old North St. Louis just got one step closer to a dramatic makeover, after a Board of Aldermen committee advanced a 25-year property tax abatement for a first-time developer with a sweeping vision for the site.
The proposal, sponsored by Alderman Rasheen Aldridge, would help clear the way to convert the block around Cass Avenue into a mixed-use campus anchored by an event venue and new townhomes. The plan, dubbed the Northern Light Land Development Project and led by developer Jeanetta Hawkins, outlines a multi-story event center, townhomes, a small amphitheater, a greenhouse for weddings and a bed-and-breakfast, according to St. Louis Magazine. Hawkins has pegged the overall cost at about $400 million and describes the vision as a “high-tech, multi-venue oasis” meant to anchor the downtown-north corridor.
The committee-backed bill would qualify the project for a 25-year property tax abatement structured as a 90 percent break on property taxes for the first 10 years and 50 percent for the following 15, per the St. Louis Business Journal. The vote moves the incentive package into further review at the Board, but it does not guarantee final approval or the land transfers Hawkins will need before a shovel ever hits the ground.
Where The Land Stands Now
The roughly nine-to-10-acre site sits near Cass Avenue and 10th Street and is largely owned by Northside Regeneration, the holding company tied to developer Paul McKee. The blocks have hosted a high-profile tent encampment this winter, and Aldridge says the St. Louis Development Corporation has already signed off on a blight finding for the parcel. Hawkins would still have to acquire the land from McKee before any construction could begin, according to St. Louis Magazine.
How The Abatement Would Work
Missouri’s Chapter 353 urban redevelopment law lets cities approve property tax abatements for up to 25 years. The state notes that these deals typically cover increases in assessed value, with a full abatement in the first 10 years and a partial abatement in years 11 to 25, according to the Missouri Department of Economic Development. Local ordinances and negotiations can tweak that formula, and Aldridge’s bill does exactly that by calling for a 90 percent reduction in the first decade rather than a full exemption, a detail reported by the St. Louis Business Journal.
Next Steps And Local Debate
Backers of the incentive argue that a long abatement is the only realistic way to attract hundreds of millions in private investment to a section of the Northside that has produced little or no tax revenue for years. Critics counter that multi-decade breaks shift the tax burden away from schools and basic services, even when the affected land is not currently a big contributor.
The measure still needs additional votes at the Board of Aldermen, plus any approvals tied to blight findings and land transfers. It will also be considered in the context of city planning efforts such as Project Connect, which aims to coordinate infrastructure and neighborhood investments in North St. Louis.
Whether Northern Light becomes anything more than a pricey blueprint will depend on Hawkins securing a purchase deal, surviving the full Board process and convincing city officials that the long-term tax gains justify decades of incentives. For now, the committee vote gives the project some momentum, but many of the biggest questions around land, financing and public benefit are still very much up in the air.
