Lambert-St Louis International Airport claims to have signed one of the most significant airfield development transactions in its history after agreeing to let Aero St Louis, LCC develop 76 acres of airport property with prime airfield access.

The deal, which is subject to approval by the City of Louis, is for land on the northern side of the gateway that was previously occupied by the McDonnell Douglas Corporation.

Once fully approved, the development agreement gives Aero two years to begin the multi-phase development of the site for both aeronautical and non-aviation use as long as it is compatible with airport operations.

Aero's investment could total $40 million if all phases of the redevelopment plan are fully delivered and a host of new revenue streams for the gateway are achieved, according to Lambert-St Louis director, Richard Hrabko.