In “Shockoe Ballpark, an Economic Retention Basin?” (Street Talk, Jan. 28), Style miscalculated the overall sales figure projections for Shockoe Center, the proposed ballpark-anchored development in Shockoe Bottom. The corrected story is here.
The Shockoe Center development must generate a little more than $90 million in retail and food sales, and not $137.4 million, according to Style's calculations, to achieve the projected tax revenue included in the development group's financial projections.
When including admissions taxes to events in and around the baseball stadium, the ballpark development would need to attract about $97 million in retail sales, food sales and events, including baseball games.
In addition, Highwoods' developers project the total retail and sales tax revenue, including retail and food sales at the ballpark, is $6.59 million, not $6.24 million, as reported in the print edition.
The tax revenue projections haven't been finalized, says Pete Boisseau, a spokesman for the group, and are subject to change as the project moves forward.
The overall figures included in the story were incorrectly calculated by Style, not the ballpark's development team. Style regrets the errors.