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“The success of the Retail Incentive Program in its first year shows that retail businesses want to be Downtown and are committing to Downtown”
Key Takeaways
- $350,000 program is a collaboration between Greater St. Louis, Inc. and the City of St. Louis
- Grants support sidewalk cafés, new space buildouts, and pop-up retail shops
- Designed to increase street-level retail activity, foot traffic, and vibrancy Downtown
ST. LOUIS – After a highly successful first year that saw eight businesses receive grants to open, expand, or improve their businesses Downtown, Greater St. Louis, Inc. announced today the launch of the second round of its Downtown Retail Incentive Program, conducted in partnership with the City of St. Louis.
“The success of the Retail Incentive Program in its first year shows that retail businesses want to be Downtown and are committing to Downtown,” said Kurt Weigle, Chief Downtown Officer for GSL. “Foot traffic is increasing, we are making great strides on public safety, and businesses are finding success. That’s true momentum for Downtown St. Louis and launching the second year of the Retail Incentive Program is a critical part of our work to keep that momentum going.”
Downtown proved to be such a great place to locate that three small businesses who applied for and received grants to establish pop-up spaces – Buddy’s Wine Bar, Whip It Goods Skin Care, and The Passport – decided to sign long-term leases.
“Last year’s program was a clear success,” said Stephen Davis, Vice President of Strategic Partnerships at the St. Louis Development Corporation. “The overwhelming demand we received confirmed what we’ve long believed: businesses see real opportunity in Downtown St. Louis and want to be part of its momentum and transformation.”
The Incentives
The incentive package includes three separate components, all targeted to attracting new retail activity and increasing density and vibrancy at street level Downtown:
- The Sidewalk Café and Signage Program. Will help Downtown restaurants build aesthetically pleasing outdoor seating, exterior signage, or retail displays to encourage more activity at street level. Restaurants can receive up to $5,000 per storefront.
- Tenant Improvement Program. Assists new retail establishments with grants of up to $50,000 for interior and exterior tenant improvements, such as new flooring, lighting, windows, as well as historical restoration.
- Pop-Up Retail Program. Designed to activate pop-up retail shops in vacant storefronts. Offers up to $15,000 per storefront.
GSL and SLDC have partnered to provide over $350,000 for the incentives, which are aligned with recommendations made in Design Downtown STL, the community-informed plan that was adopted as the official neighborhood plan for Downtown neighborhood by the City of St. Louis.
A Valuable Tool for Revitalizing Downtown
With exciting attractions, over 10,000 residents, new activations, new residential developments and restaurants, a thriving entertainment and sports scene, Downtown St. Louis is experiencing significant momentum right now. Attracting new street-level retail to these already strong assets is the next step to strengthen Downtown as the vibrant, dynamic, walkable neighborhood at the heart of the St. Louis metro.
Learn More About the Incentives
Businesses and Downtown property owners that would like more information on the incentives or that want to participate should visit http://greaterstlinc.com/RetailIncentives for program details.
Note for Media: Images and B Roll
Images and video files featuring some of the recipients of the first round of awards from the Downtown Retail Incentive Program can be found here.
Media Contact: Tony Wyche | 314-398-9991 | Tony@GreaterSTLInc.com