Alderwoman Jennifer Florida confirmed that West End Realty had recently closed with Grand Oak Hill Community Corp. on the South Side National Bank building. West End Realty is now in control of that property. There are seven condos planned for the upper floors of the building, which are expected to sell in the range of $300,000.
South Side Tower (aka South Side National Bank Bldg)
South Side Tower (aka South Side National Bank Bldg)
- 1,649
- 1,282
I have been looking forward to this develoment. That is such a great building!! 
- 1,649
The St. Louis Business Journal had a mention of the South Side National Bank building in their paper today. They confirmed that West End Realty plans to spend $6 million renovating the building's tower for use as condominiums. They stated the condominiums will sell for about $199,000 each.
- 1,282
Condo development might include TIF
Jim Merkel
Of the Suburban Journals
South Side Journal
An undetermined amount of tax increment financing (TIF) will help support a $7.4-million project to convert the old South Side National Bank into a commercial-condominium development.
The former bank building on the southwest corner of South Grand Boulevard and Gravois Avenue would be made into five commercial spaces on the bottom two floors and 13 condominiums on the top seven floors.
The tax increment financing would fill the gap between what the project can be built for and what it can sell for, said Alderman Jennifer Florida, D-15th Ward. "It's subsidizing the project so it can occur," she said.
In tax increment financing, the increase (increment) in taxes is set aside to pay for certain project costs.
Florida didn't say what she thought the TIF amount might be.
"Right now, I'm trying to negotiate a good TIF. Not too much, not too little," Florida said.
The Lawrence Group and Associates, in partnership with Arjomand Kalayeh of West End Realty, Inc., is doing the project.
Plans for the condominiums include 12 units about 1,123 square feet each selling for about $170,000 each. A penthouse of about 2,000 square feet would sell for about $300,000.
The first-floor commercial spaces would be divided into units of 1,952 square feet, 2,200 square feet, 3,790 square feet and 2,594 square feet.
The second floor and terrace would be roughly 14,300 square feet. That could be a restaurant, Florida said.
The TIF proposal should go this week to the city's TIF Review Committee in the first step toward enactment.
The TIF Review Committee consists of representatives of the mayor's office, the comptroller's office, the aldermanic president and the chairman of the aldermanic Housing Urban Development and Zoning Committee.
Jim Merkel
Of the Suburban Journals
South Side Journal
An undetermined amount of tax increment financing (TIF) will help support a $7.4-million project to convert the old South Side National Bank into a commercial-condominium development.
The former bank building on the southwest corner of South Grand Boulevard and Gravois Avenue would be made into five commercial spaces on the bottom two floors and 13 condominiums on the top seven floors.
The tax increment financing would fill the gap between what the project can be built for and what it can sell for, said Alderman Jennifer Florida, D-15th Ward. "It's subsidizing the project so it can occur," she said.
In tax increment financing, the increase (increment) in taxes is set aside to pay for certain project costs.
Florida didn't say what she thought the TIF amount might be.
"Right now, I'm trying to negotiate a good TIF. Not too much, not too little," Florida said.
The Lawrence Group and Associates, in partnership with Arjomand Kalayeh of West End Realty, Inc., is doing the project.
Plans for the condominiums include 12 units about 1,123 square feet each selling for about $170,000 each. A penthouse of about 2,000 square feet would sell for about $300,000.
The first-floor commercial spaces would be divided into units of 1,952 square feet, 2,200 square feet, 3,790 square feet and 2,594 square feet.
The second floor and terrace would be roughly 14,300 square feet. That could be a restaurant, Florida said.
The TIF proposal should go this week to the city's TIF Review Committee in the first step toward enactment.
The TIF Review Committee consists of representatives of the mayor's office, the comptroller's office, the aldermanic president and the chairman of the aldermanic Housing Urban Development and Zoning Committee.
Great news. Now maybe somebody will buy that boarded up building across from it on Grand. I love that building.
- 1,649
EXCLUSIVE REPORTS
From the April 29, 2005 print edition
<A HREF="http://stlouis.bizjournals.com/stlouis/ ... ">Lawrence Group partners up on South Side</A>
Joins West End Realty in residential redevelopment of former bank building
Heather Cole
The Lawrence Group is partnering with West End Realty Inc. on the $7.5 million renovation of the former South Side National Bank building at Grand and Gravois into commercial and residential space.
<A HREF="http://stlouis.bizjournals.com/stlouis/ ... tory4.html">>>> read more</A>
From the April 29, 2005 print edition
<A HREF="http://stlouis.bizjournals.com/stlouis/ ... ">Lawrence Group partners up on South Side</A>
Joins West End Realty in residential redevelopment of former bank building
Heather Cole
The Lawrence Group is partnering with West End Realty Inc. on the $7.5 million renovation of the former South Side National Bank building at Grand and Gravois into commercial and residential space.
<A HREF="http://stlouis.bizjournals.com/stlouis/ ... tory4.html">>>> read more</A>
As reported today by Martin Van Der Werf of the Post-Dispatch, the former South Side National Bank, which will be converted to restaurants, shops, offices and 13 condominiums, was approved for $1.4 million in tax increment financing money by the TIF commission.
As reported in the South Side Journal on Wednesday, July 13th:
Plans now call for spending $8.1 million to renovate the upper floors into condos and the bottom two floors into commercial space. Steve Smith of The Lawrence Group had said the design work and ordering of items is already underway. Demolition work and construction on the two model units will get underway in September with construction being completed by the end of 2006.
Thirteen condominiums are to be sold. Plans call for two condominiums on each level from the third to the eighth floors. There will also be a penthouse, which is to occupy the entire ninth floor of the building. The penthouse will have 2,000 sq.ft., three bedrooms and two bathrooms. The smaller condos will range from $150,000 - $200,000 and have 1,100 sq.ft., two bedrooms and one bathroom.
There is room for four retail spaces on the first floor with intentions of restaurant space being made available on the second floor.
Plans now call for spending $8.1 million to renovate the upper floors into condos and the bottom two floors into commercial space. Steve Smith of The Lawrence Group had said the design work and ordering of items is already underway. Demolition work and construction on the two model units will get underway in September with construction being completed by the end of 2006.
Thirteen condominiums are to be sold. Plans call for two condominiums on each level from the third to the eighth floors. There will also be a penthouse, which is to occupy the entire ninth floor of the building. The penthouse will have 2,000 sq.ft., three bedrooms and two bathrooms. The smaller condos will range from $150,000 - $200,000 and have 1,100 sq.ft., two bedrooms and one bathroom.
There is room for four retail spaces on the first floor with intentions of restaurant space being made available on the second floor.
- 1,282
Condos are key to revival of South Side Bank building
By Charlene Prost
Of the Post-Dispatch
08/18/2005
The limestone, Art Deco landmark also could feature ground-level stores and a restaurant in the two-story banking hall.
After surviving a demolition threat and years of controversy about its fate, the South Side National Bank building is making a comeback. But don't expect to find bank tellers and deposit slips there anymore.
What's coming inside the limestone, Art Deco building are 13 condominiums in the slender seven-story tower. And in the two-level base beneath: ground-floor retail stores, and perhaps a restaurant in the ornate, two-story banking hall on the second floor.
Developer Arjomand Kalayeh and the Lawrence Group plan to spend about $8 million to revive the landmark, built in 1928. But they're not stopping there.
Read More
By Charlene Prost
Of the Post-Dispatch
08/18/2005
The limestone, Art Deco landmark also could feature ground-level stores and a restaurant in the two-story banking hall.
After surviving a demolition threat and years of controversy about its fate, the South Side National Bank building is making a comeback. But don't expect to find bank tellers and deposit slips there anymore.
What's coming inside the limestone, Art Deco building are 13 condominiums in the slender seven-story tower. And in the two-level base beneath: ground-floor retail stores, and perhaps a restaurant in the ornate, two-story banking hall on the second floor.
Developer Arjomand Kalayeh and the Lawrence Group plan to spend about $8 million to revive the landmark, built in 1928. But they're not stopping there.
Read More
Even more exciting than the bank building renovation is that the Lawrence Group and their partner have bought neighboring properties. The building and lot they bought really need some new life in them, and I know the Lawrence Group will come up with something good. I can't wait to see it all finished. It should spur more development. Maybe the rest of the lots will be bought on the former Sears land.
It would be really nice if they would build on the lots across the street - both sides of Grand. I would love to see that intersection with proper buildings on all four corners. It would change the perception of the entire neighorbhood for blocks.
To think that it was even a consideration to tear down the South Side Bank for a WALGREEN'S of all things is beyond idiotic. Whoever proposed such a ridiculous idea was should be banished from society.
The Lawrence Group is a great team and they will do a first-class rehab. They really believe in the city.
The Lawrence Group is a great team and they will do a first-class rehab. They really believe in the city.
Whomever owns the South Side National Bank building should be forced to clean it up. Their property and the entire area is a mess. It's been this way since the bank closed and it's getting worse.
Thanks for the pics. I love this building. Is anything else going on in the immediate neighborhood? BTW, does anybody remember the goofy filmaker that called Grand & Gravois the Crossroads of the World. He made films of people rolling down Grand. I wish I could remember his name and other details. He did a lot of other goofy things, too. Maybe he still is.
- 1,649
Expat wrote:Thanks for the pics. I love this building. Is anything else going on in the immediate neighborhood?
There was an RFP put out by the LCRA seeking redevelopment proposals for the folloing buildings which are across the street....
3546-50 S. Grand Blvd.
3550-54 Gravois Avenue
3552-58 S. Grand Blvd.
3600 S. Grand Blvd.
Here is the link:
http://stlouis.missouri.org/development ... avois.html
LATEST NEWS
September 16, 2005
<A HREF="http://www.bizjournals.com/stlouis/stor ... ">Downtown projects get $3 million in state tax credits</A>
The State of Missouri approved a total of more than $3 million in state tax credits for three downtown St. Louis redevelopment projects, said Missouri Gov. Matt Blunt Friday.
The Bee Hat Building, Ely-Walker Building and Southside National Bank projects all received Brownfield redevelopment tax credits, which provide incentives to redevelop publicly owned commercial or industrial sites that were abandoned because of contamination by hazardous substances.
Southside National LLC will receive up to $450,000 in tax credits to clean up asbestos, PBC, lead-based paint and pigeon droppings at the building at 3611 South Grand Blvd. The site is being developed to include a restaurant, retail and commercial office space, a business center, residences and a parking facility.
<A HREF="http://www.bizjournals.com/stlouis/stor ... ily76.html">>>> read more</A>
September 16, 2005
<A HREF="http://www.bizjournals.com/stlouis/stor ... ">Downtown projects get $3 million in state tax credits</A>
The State of Missouri approved a total of more than $3 million in state tax credits for three downtown St. Louis redevelopment projects, said Missouri Gov. Matt Blunt Friday.
The Bee Hat Building, Ely-Walker Building and Southside National Bank projects all received Brownfield redevelopment tax credits, which provide incentives to redevelop publicly owned commercial or industrial sites that were abandoned because of contamination by hazardous substances.
Southside National LLC will receive up to $450,000 in tax credits to clean up asbestos, PBC, lead-based paint and pigeon droppings at the building at 3611 South Grand Blvd. The site is being developed to include a restaurant, retail and commercial office space, a business center, residences and a parking facility.
<A HREF="http://www.bizjournals.com/stlouis/stor ... ily76.html">>>> read more</A>
- 1,610
Who says there aren't affordable lofts and condos "downtown?" You just need to rethink your boundaries, and I mean really rethink your boundaries. I guess I should also ask our guv if Bass Pro is now in downtown Springfield.
Since the guv thinks downtown stretches out to Grand and Gravois, this might be a good time to ask him for Metrolink funds to serve "Downtown South" and get that southside line going 
.
.- 1,282
Why didn't he just they are in a place where no one wants to live?
South Grand building earmarked for renovation
South Side Journal
11/02/2005
A long-vacant building near a key South Side intersection will be renovated for small shops and apartments.
The Lawrence Group has purchased the Melba building on the southeast corner of South Grand Boulevard and Miami Street for $540,000.
Steve Smith, president and chief executive of the Lawrence Group, said work on the Melba building will be part of an estimated $10 to $15 million in improvements around the corner of Grand and Gravois Avenue.
The company is doing $6.7 million in work to convert the old South Side National Bank building at Grand and Gravois to a combined commercial and condominium development.
The Lawrence Group also tentatively plans another commercial and residential building on a vacant lot it has purchased along Gravois west of the South Side National Bank, Smith said.
Read More
South Side Journal
11/02/2005
A long-vacant building near a key South Side intersection will be renovated for small shops and apartments.
The Lawrence Group has purchased the Melba building on the southeast corner of South Grand Boulevard and Miami Street for $540,000.
Steve Smith, president and chief executive of the Lawrence Group, said work on the Melba building will be part of an estimated $10 to $15 million in improvements around the corner of Grand and Gravois Avenue.
The company is doing $6.7 million in work to convert the old South Side National Bank building at Grand and Gravois to a combined commercial and condominium development.
The Lawrence Group also tentatively plans another commercial and residential building on a vacant lot it has purchased along Gravois west of the South Side National Bank, Smith said.
Read More
- 1,054
The City did a great job with the Washington Avenue streetscape with historic replica double and triple lamp posts and steel beams making an industrial look. South Grand could be improved with a unique streetscape that appeals to the Asian population, gays (rainbow something?), and history. Such a streetscape with more trees and flowerbeds would encourage more redevelopment. (Art Deco poll & Asian themed lamps with faint rainbow stripes; polls made of granite or wrought/cast iron polls)
It's great that the rehab of the Southside National Bank has got the City pushing for other surrounding buildings to be rehabbed. Maybe Grand and Gravois used to be a center for commercial, retail, and office in the 1920s-1940s.
It's great that the rehab of the Southside National Bank has got the City pushing for other surrounding buildings to be rehabbed. Maybe Grand and Gravois used to be a center for commercial, retail, and office in the 1920s-1940s.
SMS - it would be cool if they tied South Grand together with streetscaping, with lamppost, etc. Something that would recall the streetcar era would be my preference - without being too phony. Art deco granite, as you mentioned, would be cool. Or something that would tie it in with Tower Grove Park. Or, change as you go. SLU area, Tower Grove Area, Crossroads area (my new name for Grand & Gravois ), Holly Hills, etc. I wouldn't necessarily tie it to a particular segment of the population because South Grand has become a melting pot. Though particular segments could be represented at times with banners that could be changed for special occasions or reflect the melting pot image of South Grand.
), Holly Hills, etc. I wouldn't necessarily tie it to a particular segment of the population because South Grand has become a melting pot. Though particular segments could be represented at times with banners that could be changed for special occasions or reflect the melting pot image of South Grand.Without improved streetscapes, and real urban buildings along the southern corridor of the South Grand neighborhood (the couple blocks up to, and past Gravois), this will be a tough sell. I'm fearful that the South Grand retail center (Arsenal to Utah) will stagnate. I don't think it will die or anything, just that it seems that there isn't a big effort to impove it.
I love this neighborhood, obviously since I've chosen to make it my home. But there are real concerns on my part for the future of the strip. Personally, I would love to see some more effort to make the street a more vibrant area, and slow the traffic down. There are serious dead spots, and south of Gravois (really south of Utah) the street is just bad. There's a taco bell, kfc, white castle...just very uninviting.
I personally wouldn't want to live in that building because of the corner. It's just not a place I think will be very attractive for people to live. At least right now, they need to vamp up the surroundings for that place to really sell.
I love this neighborhood, obviously since I've chosen to make it my home. But there are real concerns on my part for the future of the strip. Personally, I would love to see some more effort to make the street a more vibrant area, and slow the traffic down. There are serious dead spots, and south of Gravois (really south of Utah) the street is just bad. There's a taco bell, kfc, white castle...just very uninviting.
I personally wouldn't want to live in that building because of the corner. It's just not a place I think will be very attractive for people to live. At least right now, they need to vamp up the surroundings for that place to really sell.
- 2,005
I've always liked the South Side National Bank building and I think it'd be a cool place to live(especially the penthouse). Trent, I do share your reservations with the area. There is some serious urbanity lacking at that intersection especially with the Schnucks and Walgreens. An extension of commerical buildings would be tough near Schnucks because of the western end of the building abuts so close to Grand. It seems to me they couldn't have built the Schnucks farther from the intersection of Grand and Gravois. There is way too much parking for it as well, perhaps some out lot buildings could be built in the lot along Grand in the future.
I hope there are some good proposals for the RFP regarding the neighboring buildings of the SSB, it could be a good start to jump starting one of the more important intersections in St. Louis. For starters some improvements for the pedestrians would to wonders.
I hope there are some good proposals for the RFP regarding the neighboring buildings of the SSB, it could be a good start to jump starting one of the more important intersections in St. Louis. For starters some improvements for the pedestrians would to wonders.