REBusinessOnline

$186 MILLION SCALED-BACK CENTENE HEADQUARTERS GETS GREEN LIGHT

Construction is set to begin on a scaled-back version of Centene Corp.'s $186 million mixed-use headquarters project located in Clayton, Mo.

CLAYTON, MO. — The initial phase of construction is set to begin for St. Louis-based Centene Corp.’s $186 million headquarters campus, which will be located at South Hanley Road and Forsyth Boulevard in Clayton. The development agreement between the city of Clayton and CMC Real Estate LLC, a subsidiary of Centene Corp., was originally passed in July 2008. On February 10th, the Clayton Board of Alderman approved a new development plan for the mixed-use project, which was scaled-back from $215 million. Revised plans for the project call for an office tower measuring between 469,155 square feet to 576,883 square feet, with a ground-floor 28,125-square-foot retail component. An 882- to 1,208-space parking structure is also planned for the development. Changes in the project have reduced the net value of the tax abatement from $22 million to approximately $18.9 million. U.S. Equities is developing the project in conjunction with Clayco Realty Group. St. Louis-based based Koman Group is investing an undisclosed amount for the development.

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