Ballpark Village On Hold

A planned retail and entertainment development surrounding Busch Stadium in St. Louis remains on hold over financial issues, officials recently said.

The ballpark, which opened in 2006, houses the St. Louis Cardinals.

At the time, the team established a goal to complete the Ballpark Village district before the 2009 All-Star game, but the project has yet to break ground.

Cardinals president Bill DeWitt recently told the St. Louis Post-Dispatch that given the state of the economy, funding for the $520 million project is still uncertain.

“We don’t have full confidence that the market is ready for it yet,” DeWitt said.

The team has partnered with Cordish Co. on the development and Dewitt said discussions are ongoing regarding lease agreements in Ballpark Village once the district is built.

The team could reportedly face a $3 million annual penalty if the project is not completed by 2012.