Lawrence Group Plans $100M Mixed-Use Development in Midtown
Date Posted: January 6, 2016
Posted In: Projects,
From nextSTL: The Lawrence Group is planning a $100M+ mixed-used development at the long vacant Federal Mogul site in Midtown St. Louis. A first phase including office and retail in renovated space could begin late this year, with completion in 2018. Future phases would introduce residential and more office and retail space.
In 2013, before IKEA had been confirmed, this site broke the news that Pace Properties planned a big box retail strip on the 13.5-acre site combined. The Pace retail plan died in late 2015 when it let an option on the larger parcel lapse, and focused on a smaller 3.5-acre development adjacent to Vandeventer Avenue. That plan, for three small standalone buildings surrounded by parking never got off the ground either. Then in December, Cortex, the non-profit entity developing the 200-acre innovation district to the west, bought the smaller parcel for $3M.
Planned by Lawrence Group is as many as 240 apartments, a food court, office and retail space. The early plan would preserve several of the existing buildings on the site and work on historic tax credits is underway. Residential development is expected to be new construction. The Lawrence Group purchased the 10-acre site for more than $6M.
The plan represents another big urban investment by Lawrence Group. In October we reported on the developer’s big vision for Grand Center, beginning with the Missouri Theatre building and new offices of Bull Moose. Other rumors have the company exploring options for some of the city’s most challenging redevelopment sites.