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Higher interest rates have sidetracked plans for a new World Trade Center Saint Louis building in Clayton.
"Technically, we're out of contract right now. However, we plan to be back where we were in the next 30 days," said Patricia Nooney, president of Coldwell Banker Commercial American Spectrum, formerly Nooney Inc., the company that contracted with the county to develop the site.
"We are just going to have to change our financial packaging from what we had planned," Nooney said.
When the company originally sought a finance package, it was dealing with rates around 8 percent. Now the rates are higher -- at 8.75 percent. One of the company's equity partners had a maximum interest rate level of 8 …