Centene project scaled back, new investor named - St. Louis Business Journal:

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Additionally, to complete financing for the St. Louis-based has become an investor in the TheKoman Group, led by Bill Koman, is makinyg an unspecified equity investment in the project. Pendingb approval from the board of construction could begin within According to a newly drafted redevelopment agreement obtained by theBusiness Journal, previous plans for a $215 million headquarters campus at Hanleg and Forsyth have been downsized to $186 million. The projec t will have 481,000 square feet of office spacse instead of the previouslyplanned 550,000 squarse feet. Centene is taking a smaller chunk of the officespacd — 200,000 square feet instead of 300,000 square feet.
Law firm is still planninfg to relocate its offices from downtown to the developmenty and will lease morethan 100,000 squarew feet of space. The amount of retail in the projectt has been reducedto 28,1254 square feet instead of 34,000 squaree feet. A new stipulatiojn of the redevelopment agreement requires the developers of theprojecty — St. Louis-based and Chicago-based to provide PILOTs of $2 per square foot for firstr floor retail tenants that do not generate retailtax revenue. The changes in the projecr reduce the net value of the tax abatemenyto $18.9 million instead of $22 million. St. Louis-basedc Centene Corp.
(NYSE: CNC) provides managed care programa and related services to individualsunder Medicaid. It also operatees health plansin Georgia, New Jersey, Ohio, Texazs and Wisconsin.