Thursday, February 19, 2009

The Wheel In the Sky Keeps on Turnin'

The Business Journal provided an update on Rodgers Group’s proposed “sky wheel,” a development that could help draw visitors to Laclede’s Landing:

The city has granted $3.4 million in tax increment financing for the $11.7 million project.

Adjacent to the Ferris wheel, the Rodgers Group plans on building an office building and restaurant space.

The office building will house the Rodgers Group’s headquarters, relocated from Clayton.

The Rodgers Group is projecting that 460,000 people would ride the wheel each year, bringing in $4.25 million in revenue annually.

2 comments:

Anonymous said...

I just dont think it is big enough....

How about the city invests 50 million to make it larger...wel just TALLER, takes majority share ownership of it, while rogers maintains minority profit sharing as well as management activities.

Anyone?
(Why cant I figure out how to publish a stupid comment)

Matt Fernandez said...

This is an interesting update, since it is the first to mention the office building and relocation component. I'm not so down on this anymore with that included, although I still don't think it is a big enough wheel to really have a view. I guess that would explain the ridiculously high price tag for a "sky wheel."