Legacy to build $7 million Schnucks downtown, construction set to start - St. Louis Business Journal:

http://scienceandsex.com/digitallover5.html
St. Louis’ largest grocery store chain, , closec on financing for the storer — planned for the grounsd floor of the at Ninth and Olivestreetws — on Dec. 22. Schnuc Markets closed on $6 million in New Marketzs Tax Creditsfrom (CDC). The tax credit will translate into justunderf $2 million for the project, said Zack Boyers, CEO of . That financing enables the store to open the summer of said Schnuck Markets Chairman and CEOScott “We think it’s going to have a very strong responsee from downtown residents and officd workers,” he said. “Downtown lacka the kinds of servicesa full-service grocery stores has for things like a pharmacy.” St.
Louis-baseed Legacy Building Group, a certified and commercial generalkcontracting firm, is led by Presideny Todd Weaver. “Fortunately, we are gettin g work now that will sustain usthrouggh 2010, which is good given the currentf market,” Weaver said. Legacy’s project manageer for the downtown Schnucks isDavid Lowell. The architect for the projectt isMaryland Heights-based . Schnucks announced plans for the downtown stores inMay 2007. The grocery chain is leasinh the street-level retail space from the , the owner of the Ninthu Street Garage. Tom Collora Jr. was named storwe manager for thedowntown location. Gettingh the store up and running is estimated tocost $7.
556 million. Schnuck Markets is payinvg $3.42 million for tenant improvements, inventorhy and other opening expenses. The remainder is cominyg from a combinationof state, federalp and city subsidies, including the federal New Markets Tax Schnuck Markets spent the past year evaluating the layout for the 20,800 square foot