This article originally ran in The St. Louis Business Journal on August 9, 2023.
The St. Louis Airport Commission on Wednesday approved leasing about 158 acres to The Boeing Co. for a $1.8 billion expansion project that would create 500 jobs.
The 17-year lease consists of a 48.3-acre parcel along Banshee Road referred to as the Northern Tract, the former site of the McDonnell Douglas manufacturing facilities; and 109.5.acres known as Brownleigh which is bounded by Airport Road, I-170, and James S. McDonnell Boulevard. Boeing will pay $2.6 million annually to the city-owned St. Louis Lambert International Airport. In addition, Boeing will have the option to rent an additional 28.2 acres in the Northern Tract for $369,000 annually. Boeing also can extend the lease in five-year periods through 2070.
The amounts are based on professional appraisals and were negotiated with Boeing, said Gerald Beckman, airport deputy director, planning and development.