Development
Local and national developers and businesses choose Clayton.
Clayton contiues to be the premier business location in the region. It is the hub of the St. Louis metropolitan area, the seat for St. Louis County and is considered the area's second downtown. Before the addition of the Plaza in Clayton, the Merrill Lynch Centre and Shaw Park Plaza, Clayton's office vacancy rate had fallen to 2.9%. Even with the addition of nearly 1,000,000 square feet of new Super Class A office space, the City's vacancy rate remains among the lowest of the major metropolitan office markets. Confidence in the viability of the Clayton office market is substantiated by plans from businesses and developers to build new commercial and residential developments.
The real estate community believes that this is a testament to the strength of Clayton’s underlying fundamentals: its enviable location as the geographic center of metropolitan St. Louis, an abundance of on and off-site parking, its state-of-the-art telecommunications infrastructure, competitive lease rates, and unique and vibrant retail component. Commercial realtors recognize Clayton's intent to support quality, not quantity, in its process for approving developments. They say that Clayton is the region's most cosmopolitan area with an outstanding quality of life. In fact, "quality" has become Clayton’s trademark in every respect.
More New Developments
Recently completed
- In November 2006, Conrad Properties officially opened Maryland Walk, a 17-story condominium building and newest landmark on the downtown Clayton skyline. In addition to 101 condominiums on floors two through 17, the multi-faceted $75 million project includes 8,000 square feet of commercial space at street level. The development appeals to a cross-section of residents from various walks of life creating demographic diversity, which will in turn add to the vitality of downtown Clayton.
- In January 2008, Mark S. Mehlman Realty celebrating the opening of The Crescent, a nine story, $40,000,000 mixed-use development on the north side of Carondelet Plaza across from the Plaza in Clayton. The Crescent features 72 luxury condominium units, 25,797 square feet of ground level retail and 259 parking spaces. The building is designed to follow the curvature of Carondelet Plaza around the fountain and sculpture, Still Point, and is compatible with both the Plaza in Clayton and The Ritz-Carlton, St. Louis. In addition to the continuing the City's streetscape design, the project will include a 15' bronze sculpture by Gerard Tsutakawa.
Soon to be completed
- Scheduled to open Spring 2008, DeMun Pointe will ad 27 condominium units to Clayton's residential inventory. The $13.9 million, 3 1/2 story project is being built by Opus Properties Development at 6447 Clayton Road. It will offer 27 condominium units at a wide range of prices and 9,000 square feet of ground floor commercial space. DeMun Pointe is Clayton's first "green" mixed-use building. It is being built according to LEED standards (Leadership in Energy and Environmental Design) and will be Clayton's first LEED certified building.
Approved for construction
- The City has approved Orchard Development Group's proposal to build the Trianon, a mixed-use project at 7454 Forsyth adjacent to the Forsyth (MetroLink) Station and just east of the Ritz-Carlton. The $150 million development will include 300 condominiums with a variety of floor plans and price points. Approximately 31,260 square feet of office space and 9,600 square feet of street-level retail space is also planned. The project is unique because of its proximity to the MetroLink passenger station at Forsyth Boulevard and Forest Park Parkway. The Trianon is designed as a Transit Oriented Development (TOD), which capitalizes on the development’s proximity to theMetroLink passenger station. The developer is able to market its affordable luxury units to a group of buyers who are interested taking advantage of the accessibility to MetroLink and its passenger stations.
Under review
- Mark S. Mehlman Realty has presented plans for the Carondelet Village. The proposal for the mixed-use development includes approximately 110,000 square feet of retail space, a multi-screen movie theater/performing arts center which will be connected to a boutique hotel with 150 rooms, and 110,000 square feet of boutique office space. With the addition of a critical mass in retail and a 663 parking facility, the developer feels that the $128 million project will reestablish Clayton as a shopping destination. The proposed Village will offer Clayton residents the opportunity to stay in Clayton to shop, while drawing visitors from the entire region to shop and dine in Clayton. At its Dec. 18, 2007 meeting the Board of Aldermen unanimously approved the City's first ever use of Tax Increment Financing (TIF) for the proposed development. Following the adoption of the ordinance authorizing the use of TIF, the project must go through the site plan review process. The Board must also negotiate a redevelopment agreement.
New proposals
On Jan. 25, 2008, the St. Louis Business Journal reported that Apex Oil Company and Koman Properties, who are both headquartered in Clayton, are each working on plans for new office developments. Read more - 1/25/08 St. Louis Business Journal (SLBJ). Montgomery Bank and R.J. York are also working on plans for developments in Clayton - 2/1/08 St. Louis Business Journal
. . . plus
The Cross County Extension of MetroLink, the region's lightrail system, opened in August 2006. From the Forest Park Parkway passenger station at the northeast corner of the central business district, the route continues through downtown Clayton and turns south on its way to Interstate Highway 44. The Central/Shaw Park MetroLink passenger station located in the heart of the business district connects by walkway with the new Shaw Park Garage & Transit Center, St. Louis County's eight-level, 1,284 space parking facility along Shaw Park Drive between Meramec and Central Avenues. Described as an inter-modal facility, the Shaw Park Garage & Transit Center serves as the hub for Bi-State bus and MetroLink passengers. MetroLink riders can park their cars in the new garage/transit center, then ride MetroLink to St. Louis area businesses and attractions. The Cross County MetroLink Extension and two Clayton passenger stations facilitate travel throughout the Metropolitan area and increase Clayton’s viability as the area’s "second downtown" and its position as the most desirable business location.
Summary
Super A Class office market, its central location, immediate access to major thoroughfares and the region's lightrail system are some of the attributes that solidify Clayton’s status as the most desirable business location in the St. Louis area. Residential and business citizens throughout the metropolitan area recognize the outstanding quality of life that has become Clayton’s trademark.
http://www.ci.clayton.mo.us/index.aspx?location=128
Local and national developers and businesses choose Clayton.
Clayton contiues to be the premier business location in the region. It is the hub of the St. Louis metropolitan area, the seat for St. Louis County and is considered the area's second downtown. Before the addition of the Plaza in Clayton, the Merrill Lynch Centre and Shaw Park Plaza, Clayton's office vacancy rate had fallen to 2.9%. Even with the addition of nearly 1,000,000 square feet of new Super Class A office space, the City's vacancy rate remains among the lowest of the major metropolitan office markets. Confidence in the viability of the Clayton office market is substantiated by plans from businesses and developers to build new commercial and residential developments.
The real estate community believes that this is a testament to the strength of Clayton’s underlying fundamentals: its enviable location as the geographic center of metropolitan St. Louis, an abundance of on and off-site parking, its state-of-the-art telecommunications infrastructure, competitive lease rates, and unique and vibrant retail component. Commercial realtors recognize Clayton's intent to support quality, not quantity, in its process for approving developments. They say that Clayton is the region's most cosmopolitan area with an outstanding quality of life. In fact, "quality" has become Clayton’s trademark in every respect.
More New Developments
Recently completed
- In November 2006, Conrad Properties officially opened Maryland Walk, a 17-story condominium building and newest landmark on the downtown Clayton skyline. In addition to 101 condominiums on floors two through 17, the multi-faceted $75 million project includes 8,000 square feet of commercial space at street level. The development appeals to a cross-section of residents from various walks of life creating demographic diversity, which will in turn add to the vitality of downtown Clayton.
- In January 2008, Mark S. Mehlman Realty celebrating the opening of The Crescent, a nine story, $40,000,000 mixed-use development on the north side of Carondelet Plaza across from the Plaza in Clayton. The Crescent features 72 luxury condominium units, 25,797 square feet of ground level retail and 259 parking spaces. The building is designed to follow the curvature of Carondelet Plaza around the fountain and sculpture, Still Point, and is compatible with both the Plaza in Clayton and The Ritz-Carlton, St. Louis. In addition to the continuing the City's streetscape design, the project will include a 15' bronze sculpture by Gerard Tsutakawa.
Soon to be completed
- Scheduled to open Spring 2008, DeMun Pointe will ad 27 condominium units to Clayton's residential inventory. The $13.9 million, 3 1/2 story project is being built by Opus Properties Development at 6447 Clayton Road. It will offer 27 condominium units at a wide range of prices and 9,000 square feet of ground floor commercial space. DeMun Pointe is Clayton's first "green" mixed-use building. It is being built according to LEED standards (Leadership in Energy and Environmental Design) and will be Clayton's first LEED certified building.
Approved for construction
- The City has approved Orchard Development Group's proposal to build the Trianon, a mixed-use project at 7454 Forsyth adjacent to the Forsyth (MetroLink) Station and just east of the Ritz-Carlton. The $150 million development will include 300 condominiums with a variety of floor plans and price points. Approximately 31,260 square feet of office space and 9,600 square feet of street-level retail space is also planned. The project is unique because of its proximity to the MetroLink passenger station at Forsyth Boulevard and Forest Park Parkway. The Trianon is designed as a Transit Oriented Development (TOD), which capitalizes on the development’s proximity to theMetroLink passenger station. The developer is able to market its affordable luxury units to a group of buyers who are interested taking advantage of the accessibility to MetroLink and its passenger stations.
Under review
- Mark S. Mehlman Realty has presented plans for the Carondelet Village. The proposal for the mixed-use development includes approximately 110,000 square feet of retail space, a multi-screen movie theater/performing arts center which will be connected to a boutique hotel with 150 rooms, and 110,000 square feet of boutique office space. With the addition of a critical mass in retail and a 663 parking facility, the developer feels that the $128 million project will reestablish Clayton as a shopping destination. The proposed Village will offer Clayton residents the opportunity to stay in Clayton to shop, while drawing visitors from the entire region to shop and dine in Clayton. At its Dec. 18, 2007 meeting the Board of Aldermen unanimously approved the City's first ever use of Tax Increment Financing (TIF) for the proposed development. Following the adoption of the ordinance authorizing the use of TIF, the project must go through the site plan review process. The Board must also negotiate a redevelopment agreement.
New proposals
On Jan. 25, 2008, the St. Louis Business Journal reported that Apex Oil Company and Koman Properties, who are both headquartered in Clayton, are each working on plans for new office developments. Read more - 1/25/08 St. Louis Business Journal (SLBJ). Montgomery Bank and R.J. York are also working on plans for developments in Clayton - 2/1/08 St. Louis Business Journal
. . . plus
The Cross County Extension of MetroLink, the region's lightrail system, opened in August 2006. From the Forest Park Parkway passenger station at the northeast corner of the central business district, the route continues through downtown Clayton and turns south on its way to Interstate Highway 44. The Central/Shaw Park MetroLink passenger station located in the heart of the business district connects by walkway with the new Shaw Park Garage & Transit Center, St. Louis County's eight-level, 1,284 space parking facility along Shaw Park Drive between Meramec and Central Avenues. Described as an inter-modal facility, the Shaw Park Garage & Transit Center serves as the hub for Bi-State bus and MetroLink passengers. MetroLink riders can park their cars in the new garage/transit center, then ride MetroLink to St. Louis area businesses and attractions. The Cross County MetroLink Extension and two Clayton passenger stations facilitate travel throughout the Metropolitan area and increase Clayton’s viability as the area’s "second downtown" and its position as the most desirable business location.
Summary
Super A Class office market, its central location, immediate access to major thoroughfares and the region's lightrail system are some of the attributes that solidify Clayton’s status as the most desirable business location in the St. Louis area. Residential and business citizens throughout the metropolitan area recognize the outstanding quality of life that has become Clayton’s trademark.
http://www.ci.clayton.mo.us/index.aspx?location=128
