Grand Center East & Locust Business West is Shaping up to be…
St. Louis’ Next Great Entertainment District?
Young entrepreneurs, seasoned developers, and major players are all converging in on the area just north of the new St. Louis University Sports Arena. The area is at the far western boundary of the Locust Business District and the Eastern edge of Grand Center.
Dozens of establishments like, restaurants, coffee shops, Night Clubs and sports bars. “Promise to make this area a most eclectic and vibing new entertainment area of the city.”
SLU’s New Arena to Open in March 2008
“McCormack Baron's $200 Million Dollar Plan for a 400,000-square-foot mixed-use development. At Lindell and Grand”
Along with the small business entrepreneurs, Big Boys like: St. Louis University and developer McCormack Baron Salazar are partnering on a $200 million plan to transform the intersection of Grand and Lindell, which is a main entry into the Grand Center arts and entertainment district.
McCormack Baron's proposal for a 400,000-square-foot mixed-use development on 4.3 acres owned by the university calls for 100 condos, 155,000 square feet of retail space and 100,000 square feet of office space. McCormack Baron plans to move its corporate headquarters and 300 employees from 1415 Olive St. downtown to about half the new office space upon completion in 2009. Part of the retail component includes plans for a multi-screen movie theater.
"Our hope is this will be a Transformative project that will finally bring people to this area of the city," said Richard Baron, co-founder, chairman and chief executive of the real estate development firm. "We think the housing component is an important ingredient to provide more energy to the district."
Who else is investing in West Locust & East Grand Center?
Starwood, Hyatt to expand in St. Louis
John Steffen and Mike Mullenix are partnering on a $30 million conversion of the century-old Metropolitan Building in Grand Center into a Hyatt Place hotel and working on a plan to bring a Starwood 'aloft' brand hotel to the Arcade building downtown. The Grand Center Hyatt Place will be the first historic rehab hotel for Chicago-based Hyatt's Hyatt Place flag, Pyramid Cos., led by Steffen, closed March 22 on the purchase of the Metropolitan Building in Midtown.
“It was an opportunity that could not be passed up, to bring much-desired hospitality services to Grand Center," Steffen said. "We had always had our feelers out for this kind of an opportunity. We were amazed at the extent of the interest by several flags and several owner/operators."
Steffen said the Hyatt Place hotel will have at least 125 rooms and up to 15,000 square feet of ground-floor retail space, including shops that will be located on the perimeter of a surface parking lot immediately east of the hotel.
3037 Locust: The “Fountain On Locust” Old Fashion Ice Cream Soda Fountain to open any day now
3224 Locust, pioneer Erich Kollinger turned an old Cadillac dealership into luxury lofts.
New Sports-Night Club “Lush” at 3100 Olive
More new venues are popping up every day. Coming off the successful launch of the new Sports Club “Lush” The developer Jassen Johnson of Integration Development, has at least 12 new establishments soon to adorn the area. Included are, coffee shops, sandwich shops, bars and maybe a lounge or two. The proprietors are hoping for a steady stream of traffic from events at the new Slu arena. Plus the expanding demand from the growing residential & student body.
More and …
More Development on the way...
3201 Washington Architect Building
One block north of Locust on Washington Avenue. The architectural development at 3229 Washington by Winker Properties LLC has been completed and now has their 1st tenant.
A few doors west at 3305 Washington, a new restaurant is slated to open in the spring of 2008.
At 3207 Washington the former Kastle banquet center and night Club is now available for lease and for sale.
In 2001, Mark Bradley the developer of 3207 Washington was the first establishment to cut the lights on in what was otherwise a vacant area of the city.
Originally built as the home of Central States Life Insurance Co. in 1921. This is a classic “Art Deco” design. Comes with approximately 23,000 square feet and has been fully rentavated in 2001. The zoning is currently for a nightclub or lounge.
The Building is for sale at $1,499,000
For lease at: $7 PSF NNN*
This sales article is being sent out to realtors, investors, and restaurant owners. The building has many possibilities ranging from an upscale nightclub or restaurant, sports bar, a beautiful art gallery, or a professional building.. If you have an interest or have clients that could take advantage of this spacious one of a kind building, now is the time to get into “The Next Great Entertainment Dirstict” This building has unlimited possibilities for those who want to be nested in grand center.
For more information go to: www.3207washington.com
Or contact Mark Bradley at: 314-574-4667
