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March 28, 2017

Renovating St. Louis City with SLU Redevelopment, Retail in the Loop and South Grand Office Space

While there are a lot of exciting new Downtown St. Louis construction projects, our city continues to expand further out into the city locations with several new apartments, retail and office spaces under construction.

SLU Redevelopment Plan

Saint Louis University has a 395-acre redevelopment plan that will span the central corridor with four different focuses. First will be medical and educational, including offices, training facilities, classrooms, labs, research and pharmacy facilities. The next focus will be office facilities, retail locations, hotels, recreational area and parking. New residential housing is in the works for families or other low-density dwelling units. The plan also features the connection of Chouteau Greenway which would flow through the entire 395-acre redevelopment area.

Within the SLU redevelopment plan, there is an $82.2M redevelopment plan to renovate the long-vacant 90,000 square foot Armory into a mixed-use space for offices, restaurants and a health spa. During the second phase of the renovation, a new building will be constructed next to the Armory to house a 135-room, 7-story hotel with a parking garage for 300. The basement of the Armory, previously used for tank and military truck storage, will also be a parking garage. The project is currently seeking $8M in tax increment financing (TIFs), a 15 year graduated tax abatement, $7M in Missouri historic tax credits, $5M in Federal historic tax credits and $1.1M in other state tax credits. The project will create about 700 jobs with payroll averaging $33M a year.

The Pelican Building

The Pelican Building on South Grand, just north of Tower Grove Park, has plans to be renovated, while the neighboring vacant YWCA will be replaced with 116 apartments as well as some retail and office space. The site was purchased for $1.8M and the plan will cost another $18M. The project is requesting a 10-year tax abatement.

CWE Condo

Construction has started and apartments can now be reserved at the newest condo building in the heart of Central West End at 4101 Laclede. This is the newest apartment/condo building in CWE since 2009 and will offer an array of condo options (including 1-3 bedrooms) in the 54 units. There will also be 6,000 square ft of retail space in the 5 story building. The $16M project has a 10-year tax abatement.

Retail and Office Space in the Loop

A new retail and office building in The Delmar Loop is being planned for the Circle K location at Skinker & Delmar. Developers are hoping with the elimination of the Circle K Gas Station, crime will decrease in the area. The building will be a 3-story, $26M mixed-use project that will house over 280 full-time jobs targeted for technology and other creative firms. $4.4M in TIFs are being requested for the project.

Renovation of Suburban Industrial Packaging

The 250,000 square foot Suburban Industrial Packaging property at Tower Grove Ave & Vandeventer in Forest Park Southeast is planned to be renovated into 160 lofts with ground-floor retail space. They would convert the loading docks to about 200 parking spaces. Developers are looking to reserve $10M in Missouri and Federal historic tax credits with a 10-year abatement for the $30M project. The building will be a draw for all those with the love of trains, as it curves to face the busy railroad, with proper soundproofing. An interior open air courtyard is also part of the plan.

As our community evolves, there are new commercial construction projects happening all over the city of St. Louis, with many more in the works. Check out the expansion projects happening in downtown St. Louis.

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