Wednesday, August 10, 2011

Ballpark Village Loses Another Lead Tenant; Stifel Nicolaus Will Stay in Current Building

Posted By on Wed, Aug 10, 2011 at 8:12 AM

Strike Three: The Cardinals have now lost three lead tenants for Ballpark Village.
  • Strike Three: The Cardinals have now lost three lead tenants for Ballpark Village.
Financial firm Stifel Nicolaus has joined the ranks of the law firm Polsinelli Shughart and health-care company Centente in announcing yesterday that it no longer plans to move into Ballpark Village.

Like the two lead tenants before it, executives at Stifel Nicolaus said they could no longer wait for the much-delayed development on the site of the old Busch Stadium to materialize. The good news (for the city, anyway) is that Stifel Nicolaus and its 800 employees will stay downtown. The company is purchasing the building it currently leases at 501 N. Broadway and plans to bring an additional 200 employees into the space.

Stifel Nicolaus' departure now has the Cardinals searching for a company to fill the office building it hoped to build in the site as part of first phase of development at Ballpark Village. If nothing is built at Ballpark Village by 2014 the team will owe the city $3 million in penalties.

Somehow Cardinals president Bill DeWitt III remains optimistic telling the Post-Dispatch today:
"We didn't ever feel it was Stifel or bust. We've got a plan to move forward."

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