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Cardinals Get Financing For Ballpark Village

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ST. LOUIS, MO (KTVI)-- A big win for the St. Louis Cardinals but it has nothing to do with baseball. The state ''signs off'' on the critical tax incentives needed to make Ballpark Village a reality.

For all those skeptics, and there have been plenty of them since the project was first announced, the Cardinals hope clearing this hurdle will prove that the vacant field north of the stadium really is going to be Ballpark Village.

The key financial piece needed to get started was $17 million in state tax incentives. And Tuesday morning, the Missouri development finance board voted to approve that plan.

 The Cardinals say what finally made this happen was the announcement that both the team and the cordish companies, which will develop the project, have agreed to buy the bonds themselves.

And now with the ability to start that process, Cardinals President Bill DeWitt III says they should be able to break ground for phase one in mid November.

The three anchor tenants for this phase will be a Cardinal national restaurant and hall of fame, an Anheuser Busch brew pub, and a live event area.

There will also be 100,000 square feet of retail space that is already 80 percent preleased; they expect to announce who those tenants are in the next few weeks.

There are still a few details to work out, including the final design work, but they expect to open in the spring of 2014.