State tax credits will help developer Craig Wagoner renovate the 120,000-square-foot building at Chestnut Expressway and National Avenue into the Lofts at Jordan Creek.

Tax credits approved for Lofts at Jordan Creek, Brick City

SBJ Staff

Posted online December 13, 2006 | 11:00 pm

Gov. Matt Blunt announced Wednesday that two redevelopment projects in downtown Springfield have been awarded a total of $820,000 in Brownfield Redevelopment tax credits.

The credits are awarded through the Missouri Department of Economic Development, which provides financial incentives for the redevelopment of abandoned commercial or industrial sites that are contaminated with hazardous substances.

Big Windows LLC will receive $580,000 to renovate and rehabilitate the 120,000-square-foot former Springfield Paintball complex, 601 N. National Ave. Developer Craig Wagoner plans to spend between $10 million and $12 million to create the Lofts at Jordan Creek and a mix of commercial and retail space.

The state’s investment in that project is expected to help create 106 jobs, according to a DED news release.

Brick City LP also was approved for tax credits, to the tune of $240,000, to renovate and rehabilitate adjoining properties at 305 West Mill St. and 212 West Phelps St. Led by developer Matt Miller, the $12 million project will cover a full city block comprising seven buildings. Plans call for 100 lofts and 25,000 square feet of office and retail space.

The tax credits for that project are expected to help spur 97 new jobs, according to the release.[[In-content Ad]]