HAZELWOOD, MO – The POWERplex got a green light from the City of Hazelwood Wednesday night. The mega sports complex is one step closer to becoming a reality after the city and developer Dan Buck agreed to the terms and conditions to make the POWERplex a reality.
Now, they just need to secure the financing for the project.
But there was no doubt tonight the City of Hazelwood wants the POWERplex. The unanimous approval came after a meeting with the city council where developer Dan Buck made a presentation to the council.
Phase one of POWERrplex will be just shy of $56-million dollars funded through a combination of public sources from the city and county, the convention and visitors commission, private financing from banks, the Cardinals and other investors.
The project will redevelop the St. Louis Outlet Mall into the country`s largest youth sporting complex.
Buck`s company, Big Sports Properties estimates the project will serve more than 2.6 million visitors annually.
Buck says the economic impact on the region will be substantial as it ripples out to other businesses.
The Hazelwood City Manager says the council felt the benefits of this project far outweigh the costs, “Almost all of the funding is coming from the private sector, and indeed, some of the city money is going to be supported by backstop revenues from this project. So, the city`s contribution in this roughly $62 million project is $5.6 million. That`s really very small. If you look at a lot of these facilities as we have, anywhere from two-thirds to a hundred percent of the funding comes from government. So, another reason why we`re very excited about this project,” said Matt Zimmerman, City Manager.
Both sides need to ensure they have all their funding in place with the hope of being able to finally approve the project at the October 17th council meeting.
If all goes well, they hope to begin construction at the end of October and host the first tournament by next spring in 2019.