ST. LOUIS, MO/April 19, 2017 (STLRealEstate.News) Developers of an apartment project in St. Louis’ Dogtown neighborhood this week announced they are in deep negotiations for opening a grocery store on the bottom floor of their proposed building. The move, they argue, would be lucrative for both the residents of the building and surrounding community members looking to have more access to grocery shopping today.
Pearl Companies of Indianapolis already won neighborhood backing for the 100-unite apartment building at 6300 Clayton Avenue. Dogtown residents this past January came together for a vote to support a zoning variance that would all the five-story structure to be built at the site of the former lumberyard. Though materials that have been submitted to the St. Louis Tax Increment Financing Commission don’t specify the grocer, they do say the retailer is local and negotiations are ongoing. This particular project would include 16,000 square feet of commercial space on the ground floor, a retail component all residents have expressed interest in since negotiations began.
It’s worth noting that community members opposed the prior plan that was proposed four years ago. The new plan states that the grocery store would occupy the entire ground floor of the proposed building, according to documents submitted to the city. To make it happen, the development company is seeking $3.8 million in TIF assistance for the $25.6 million project. This same project is also calling for 127 underground parking spaces for all of the building residents. Almost 90 of the 100 apartments would be either bedrooms or studios, with the remainder being left for two-bedroom apartment construction.
If all continues according to the plan, these developers will have no problem erecting their Dogtown apartment complex, equipped with a full-scale grocery store in the bottom and underground parking spaces that make this place one surely to be sought after.