Author - Kathy Bratkowski

$90 million Rehab Planned for Old St Luke’s Hospital Building

$90 million Rehab Planned for Old St. Luke's Hospital Building

ST. LOUIS, MO/May 16, 2017 (STLRealEstate.News) Old St Luke’s – A development power team has big plans for a 1904 building on Delmar Boulevard that once housed the old St. Luke’s Hospital.

Build-A-Bear CEO Maxine Clark and Clayco Inc. plan to turn the building into apartments and collaborative office space for nonprofit organizations.  Plans call for 180,000 square feet of office space and 160 apartments with storefront businesses on the ground floor.  Possible neighborhood businesses include a bank, a child care center, restaurants or a gym.

The building is just on the north side of the dividing line between University City and the city of St. Louis. In a nod to the location, developers are calling the complex Delmar DevINe.  The campus was home to St. Louis ConnectCare, which filed for bankruptcy in 2013.

It’s hoped that the development will be a nonprofit version of the Cortex Innovation Community, a tech hub which has brought new life to part of Midtown and the Central West End.  Clark hopes that the new development will be a collaborative space for nonprofits and community organizations that seek to improve the lives of families in the city.

Earlier this year, the city solicited bids to redevelop the complex.  The Clark/Clayco proposal was one of two submitted to the St. Louis’ Land Clearance for Redevelopment Authority, owner of the former hospital.

St. Luke’s moved to Chesterfield in 1975.  Areas such as the Central West End and Delmar Loop thrived while the building sat vacant for long periods of time.  As more Delmar Loop development has migrated east, the building’s location is more attractive, according to developers.

Plans are for small apartments that are affordable to young professionals and employees of nonprofits.  Construction is scheduled to begin this fall, with initial occupancy available in early 2019.
By Kathy Bratkowski

Marriott’s Newest Hotel Brand To Open in Chesterfield

Marriott's Newest Hotel

CHESTERFIELD, MO/March 14, 2017 (STLRealEstate.News) This spring, a Marriott TownePlace Suites is slated to open in a new location in Chesterfield’s Blue Valley development.  The 112-room all-suite hotel will be located near the St. Louis Premium Outlets, south of Interstate 40/64 near Chesterfield Airport Road.  The hotel will be on Blue Valley Avenue between Brasher Street and Premium Way.

The new TownePlace Suites is in the heart of recently-opened retail outlets such as a 60,000 square foot Gander Mountain, a 55,000 square foot Burlington store and a 20,000 square foot Cavender’s Boot City.

Hotel amenities include an indoor swimming pool, large meeting spaces and extended stay options for travelers or recent transplants to the St. Louis area.  Guest suites accommodate up to six guests and include studio, one bedroom and two-bedroom floor plans.

Extended stay hotels are a highly profitable segment of the hospitality market and nearly all hotel chains are expanding into construction of all-suite hotels.

So far, St. Louis has two other TownePlace Suites locations in Fenton and St. Charles.  Construction of Marriott TownePlace Suites is booming nationwide, with 300 hotels opening this year, and a projected 500 new hotels by 2020.

Silverstone Hotel LLC has a franchise agreement with Marriott to construct the Chesterfield TownePlace Suites.  Silverstone is owned by KMG Hotels based in Kansas City and operates and manages seven properties including Hampton Inns, Holiday Inns and Candlewood Suites.

The Blue Valley Development will grow to approximately 600,000 square feet of space with the opening of the new hotel.  The project is zoned for 1.4 million square feet altogether.

Microsoft to Open New Regional Headquarters in the Cortex Tech Hub in St. Louis

Microsoft - Cortex

ST. LOUIS, MO/March 14, 2017 (STLRealEstate.News) Microsoft will move its regional offices from Creve Coeur to the Cortex technology district in the Central West End in the summer of 2018.

The software giant will be the anchor tenant for a new $55 million dollar, 180,000-square-foot office and lab complex being developed by Wexford Science and Technology.  Microsoft will employ an estimated 150 people at the regional headquarters with sixty of those employees coming from the Creve Coeur location.

Officials of the Cortex Innovation Community say the move shows how the district has become a leader in innovation and technology in the Midwest region.  “The new Microsoft Technology Center brings another leading-edge technology resource to St. Louis’ booming innovation community, and its presence adds further credibility to the reality that St. Louis has become one of the leading growth cities for innovation companies,” said Dennis Lowar, president of Cortex.

Cortex was founded in 2002 through a collaboration among BJC Healthcare, the Missouri Botanical Garden, Saint Louis University, the University of Missouri-St. Louis and Washington University in St. Louis.  The district was cited by the Brookings Institution as a model of urban innovation districts.

“Opening a new Microsoft Technology Center in the thriving Central West End district is exciting for our company and our customers, as St. Louis continues to support a booming technology scene,” said Ervin Flores, general manager, Mid-America District, at Microsoft.  “We are thrilled to support local startups, as well as enterprises large and small, through our work with the Cortex Innovation Community.

MTCs bring together resources to design customized information technology systems for customers.  It’s estimated that Microsoft’s investment in the city amounts to more than $50 million in local jobs, facilities and software grants.