http://www.bizjournals.com/stlouis/news ... ml?ana=twt

A New York City firm plans to put $14.2 million into a redo of two buildings on the western edge of downtown St. Louis.
Millennial Realty Group plans to acquire 2035 Lucas Ave. and 2030 Delmar Blvd. for nearly $2 million, said Adam Cohen, of Millennial. The transaction, he said, should close by mid-August, with the project being completed by July 2016. St. Louis Braid Co., whose president is Thomas Goltermann according to filings with the Missouri secretary of state’s office, currently owns 2035 Lucas Ave. 2030 Delmar LLC, whose manager is Joseph Robbins according to state records, currently owns 2030 Delmar Blvd.

The redevelopment calls for 57 one-bedroom units and 29 two-bedroom units, according to documents from Saint Louis Development Corp. (SLDC).

The project would have 1,800 square feet of commercial space and 95 parking spaces.

Millennial Realty Group would use state historic tax credits, private equity and bank loans for the project, according to SLDC.
A bill making its way through the St. Louis Board of Aldermen would designate the area that incorporates the buildings as “blighted” and provide for an up to 20-year real estate tax abatement. That would not include fees paid to special taxing districts.
City records show that in 2014, the owner of 2035 Lucas Ave. paid real estate taxes of $18,980, and special business district taxes of $1,554. Also last year, the owner of 2030 Delmar Blvd. failed to pay $13,001 in real estate taxes and has a total unpaid balance from 2012 through 2014 of $47,571. 2030 Delmar Blvd.’s special business district taxes totaled $1,064 in 2014.

A nearby building, at 2000 Washington Ave., is slated to get five apartments and commercial space in a $650,000 renovation.
Sovereign Partners, another New York developer, is planning 57 apartments with 2,000 square feet of commercial space at 1701 Locust St., about a half-mile southeast of the development at Delmar Boulevard and Lucas Avenue.

^ we should make a new thread called "Downtown West, picking up steam", I personally like the architecture in Downtown West better. The area has great potential to become a cohesive mixed use district.

Agree. I would like to see some modern construction on the open lots.

roger wyoming II wrote:Appears to be market rate oriented with apparently no LIHTCs sought... hopefully 2035 Lucas finally gets over the hump as the prior plan fell through and Saint Louis Braid moves elsewhere in the city. The Delmar building also has come office tenants who hopefully will relocate close by as well.

Looks like the next step for this part of Downtown West is infill as pretty much everything will have been rehabbed.

Last I checked, the Delmar building was vacant. Pretty sure there are no office tenants there.

A Kansas City developer is proposing a $32 million commercial development across the street from the Schlafly Tap Room in Downtown West.  

Matt Abbott, of Abbott Properties in Kansas City,  wants to rehab five unoccupied buildings in the block bounded by Washington Avenue and Locust, 21st and 22nd streets, according to a city economic development agency.

https://www.stltoday.com/business/local ... user-share

Downtown West is sizzling with development
add this to Tire Mart $26M apartment revo, Jefferson Connector project, MLS stadium, Union Station, Twain Financial, Monogram+Field Foods grocery.

Well in the short term I will definitely take the activated green space over the current overgrown lot surrounded by rotting sidewalks or *shutters* a surface parking lot. The area still has plenty of empty lots to build upon for the next 20 years of growth, and when the area is more built out in a couple decades I'm sure the numbers will make sense to build on the greenspace.

Rendering. I like it.

Can we please put a halt to the Container Architecture gimmick now?

I think there won't be any residential here but I like the project. Maybe the green space is a a placeholder for future development. Also, wasn't this the site for that Factory?

That rendering looks a little cartoonish. Do they really intend to do away with the alley that runs through the middle of that block?

I'm in favor of any owner that would take better care of the green space on the NE corner of this area (21st and Washington).

Black02AltimaSE wrote: ↑

Nov 13, 2018

That rendering looks a little cartoonish. Do they really intend to do away with the alley that runs through the middle of that block?

I'm in favor of any owner that would take better care of the green space on the NE corner of this area (21st and Washington).

The site plan shows the alley (St. Charles) ending about halfway through the block and will primarily be a driveway for the parking lot. On another note, JEMA is the architect.

the whole fashion thing is funded by DowntownSTL inc, their boundary stops at 18th, so i doubt this factory will be west of 18th if they want DSI money to help

dbInSouthCity wrote: ↑

Nov 14, 2018

the whole fashion thing is funded by DowntownSTL inc, their boundary stops at 18th, so i doubt this factory will be west of 18th if they want DSI money to help

Interesting. Hopefully they put it into a building then unless they want to build on a parking lot but it's all speculation.

Is this still project still happening? The for sale signs have come down on the property.

If the signs came down, that's hopefully a good sign. The fact that the signs have been up for a while was making me a little nervous, so this is probably a step in the right direction.

Any update on this project? Curious to see which DT West projects rev up in anticipation of the stadium announcement.

^ not sure of project status but the KC developer picked up the buildings - and I think some others in the general area including one on Olive I believe in the general stadium footprint - this Spring.  The vacant lots on Washington were sold this summer to an entity with a different name/address but not sure if it is a completely unrelated party .

It looks like they own most, but still not all, of the parcels within the primary footprint. According to GeoSTL, Twain Financial appears to own a couple of these lots still (the ones just east of their new HQ). And, the building on the southeast corner does not yet appear to be owned by Abbott either.

However, they appear to have acquired quite a bit of additional property in the immediate vicinity, including the vacant grass lots east of 21st, the blacktop parking lot east of Schlafly, and some of the vacant lots just north of Washington. So, although they don't have all of the parcels within this primary footprint, they have quite a few additional, good sized parcels surrounding it. They have consolidated a good little chunk of real estate in the area, most of it vacant. Maybe, just maybe, we'll even see some infill on some of these parcels in the future.