ST. LOUIS – A new petition could lead to millions of dollars in investment on a stretch of Delmar Boulevard along the northern boundary of the Central West End.
Kevin Bryant’s business, Kingsway Development, sits near a blighted stretch of Delmar between Kingshighway and Taylor.
“Of the proposed 14 businesses that’s going to be in the new district, there’s only like four that were still properly paying taxes in the area, so they were looking for help,” he said.
Bryant is now leading the charge to create a new community improvement district (CID) on that half-mile strip. He and several other property owners have signed a petition asking for the city to approve the district. After that, their goal is to create a new 1% sales tax within the CID to get rid of the blight.
“We did not have to pursue this tax. We chose to pursue this tax because there’s just no support for areas like this,” he said. “So, by pushing for this tax, it allows us to create money for this area that normally did not exist.”
According to projections, the CID would pay for projects totaling more than $7 million. Adding security would be the largest expense, amounting to over $4 million, followed by $810,000 in administrative costs and $540,000 for marketing. It would also pay for cleaning and trash removal at $505,000, sidewalks and street improvements totaling $400,000, landscaping worth $200,000 and drainage and sewer systems for $100,000.
Voters would have to approve the new tax first.
Bryant says even before this CID, there are already hundreds of millions in new investments coming to the area.
“There’s about $200 million worth of new projects for this area,” he said.
Kingsway Development already owns a lot of land in the proposed district, with new projects in the works like the Bridge Apartments, slated for an empty lot at 4800 Delmar Blvd. With so many vacant lots currently in the proposed district, Bryant hopes the majority of the tax will be collected by new businesses.
“By using this tax to invest in the area where the new businesses are going, it helps this area become more vibrant,” he said. “It helps this area become more attractive for additional investment.”
The St. Louis HUD Committee will discuss the petition on Tuesday, Dec. 3.