ST. LOUIS – The Missouri Department of Economic Development (DED) today announced that a St. Louis organization has been approved for remediation tax credits through the Brownfield Redevelopment Program.

Remediation tax credits for up to $1 million have been approved for 1227 Washington, LLC, St. Louis, for the redevelopment of the property located at 1225-1235 Washington Avenue, St. Louis. The remediation tax credits will facilitate the redevelopment of this property into a mixed use development of commercial office, restaurant and residential space. The applicant is projecting to create 159 new jobs.

The 101,675-square-foot building, which was constructed in 1899, has been used as a shoe and merchandise warehouse since 1930. The last tenant, Mark Lemp Footwear, relocated in 2005. The upper floors of the building have not been used since prior to 1998. The building has the presence of asbestos and lead-based paint.

The Brownfield Redevelopment Program provides financial incentives for the redevelopment of commercial or industrial sites that are contaminated with hazardous substances and have been abandoned or underutilized for at least three years. Applicants may be approved to receive state tax credits for eligible remediation costs; tax credits provided for jobs and investment; and demolition costs.