ST. LOUIS-The Centene Corp. is arranging the construction of up to 1.2-million-sf office headquarters in the Downtown, to be called Centene Centre. The healthcare firm has joined unnamed partners to form BW Development Group to build the $250-million facility in the Ballpark Village area, along two blocks starting at the corner of Broadway and Walnut streets.
In a company statement, chairman and CEO Michael Neidorff says the company is enjoying steady growth. The firm will leave a presence at its current headquarters in Clayton, MO, the company says in the statement, though more specifics were not revealed. The company had looked at a few other sites, including in other states, Neidorff says.
St. Louis Mayor Francis Slay says in the statement that the move into Downtown could be the largest by any employer in the past half-century. “We will look back on this move as a tipping point for Downtown,” Slay says. The move is expected to bring 1,200 jobs into the city in the next three-to-five years.
Phase one of the project will consist of 700,000 sf of office space with street-level retail and 1,450 parking spaces. Phase two could include up to 550,000 sf of space as needed.Eric Slusser, EVP and CFO for the company, says the company will lease the building from BW. “By being a partner in the development company for the headquarters project, we will not only realize the financial benefits from the development, but will also realize significant benefits under the terms of a long-term lease arrangement. In addition, all financing for the development will be within the development company and will be non-recourse to Centene,” Slusser said in the statement. Company spokespersons did not return calls for comment.
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