Through the years, the LDC has helped support local business development, mostly through its partnership with the Lemay Chamber of Commerce.Â The majority of these LDC’s efforts have centered around real estate development.Â One of the great successes was the redevelopment of 9417 South Broadway.
9417 South Broadway
In 1996, through the efforts of former Congressman Richard Gephardt, and in conjunction with the State of Missouri Department of Economic Development, LDC purchased and developed the property at 9417 S. Broadway.Â After
the complete rehabilitation of the existing 7,400 square foot building and the
construction of a 10,789 square foot addition, the LDC leased the majority of
the space to the Lemay Center for Composite Technology, a training center and teaching factory for composites material under the U.S. Navy Mantech program.
The remainder of the building functioned as incubator space for a handful of businesses and non-profits.Â When the U.S. Navy Mantech program ended, LDC sold the property to Magnet Works, the nationâ€™s largest producer of magnetic mailbox covers.Â This allowed Magnet Works to remain in the Lemay community and continue to grow.
Eventually, the company outgrew the space and sold the building to Hancock Place School District.Â The building is now the home of the Hancock Place School District Administrative offices and Early Childhood Center.Â The School District made significant investmentsÂ in the building to turn warehouse space intoÂ classrooms and to update the original building to fit its administrative needs.