Historic North St. Louis Made All New
The New NorthSide is a vision to rebuild a historic and once successful part of the St. Louis community. A place where people can safely and securely raise a family, educate their children and build a successful life of opportunity and growth. The foundation of this success will be new, growing economic opportunities – JOBS that will provide the NorthSide businesses and residents with the economic stability to support successful education systems, health care, police and fire stations, and the infrastructure to support community business success and growth.
The NorthSide will set a new standard and raise the profile of St. Louis – the city, the leadership, the people – as leaders in urban renewal for other cities to follow. It will be the shining example of doing it right, changing the entire profile of St. Louis, elevating the city back to its position as one of the greatest cities of America – socially, economically and professionally. It’s not just about the geography of the development, but about the entire city of St. Louis.
NorthSide Regeneration is an urban community development – a self-sustaining neighborhood of people, culture, economic opportunity, secure environment and education for our children with the infrastructure and capitalistic growth to support key, necessary services for the community. Encompassing over 1,500 acres the development borders downtown St. Louis with a total estimated investment of over $8 billion once the entire development is complete.
NorthSide’s Principles for a Livable City:
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The integration of industry, community and culture with the right leadership will prove to be the model for revitalizing Urban America.
The Stan Musial Veterans Memorial Bridge, slated to open early 2014, enters St. Louis within NorthSide Rengeneration development. With a traffic count of over 40,000 cars per day North St. Louis will be a major new entrance point into the city and a major economic impact within the development.
Jobs have always been the primary motivator for NSR with an estimate of more than 50,000 total jobs and 22,000 permanent jobs generated by the development’s activity. Our goal is to raise median household income to over $40,000, with a 5% unemployment rate and over $976 million in annual payroll.
Formula for Change
A Holistic Philosophy | A Minority Wealth Creation Strategy
NSR’s Formula for Change is a very real and sustainable mechanism to reverse economic and social deterioration – and one that will eventually power and sustain positive economic and community growth.
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NorthSide Regeneration is proud to have the support of many community leaders and organizations throughout the St. Louis metropolitan area. Their continued input and support is vital to the success of this project.
What is TIF? Why is it important?
Tax Increment Financing (TIF) is a mechanism created by legislators designed to help facilitate development and job creation. It is meant especially for areas that, because of blight or degeneration, are caught in something of a ‘development catch 22’. In other words, “but for the TIF” new development can’t happen.
Importantly, a TIF is not a tax increase. It only affects new (increment) tax created. All existing taxes continue to be collected by the existing taxing districts. But TIF allows a city to leverage the value of future incremental taxes to create the new public infrastructure needed for the new development to happen at all.
TIF disbursements are in accordance with Missouri State law and managed by the city. The developer must first spend the money from disbursements that are to be reimbursed.
- Projects on the scale of NorthSide Regeneration are most successful when supported by a broad range of organizations. We are proud to include many St. Louis municipalities and partners in this venture.