Ballpark Village’s Apartment Tower Inches Closer to Completion
Date Posted: September 5, 2019
Posted In: Projects,
From St. Louis Business Journal: As the St. Louis Cardinals regular season nears its conclusion, development of Ballpark Village’s new apartment tower also is inching closer to completion.
The 29-story, 297-unit One Cardinal Way tower is about 65% to 70% complete, officials said Wednesday during a media tour of the construction site. Currently, the building is about 40 percent pre-leased, a figure the Cardinals and development partner Cordish Cos. say is particularly strong for a building that won’t occupy tenants until next summer.
“At this point, to be 40 percent, that’s ahead of projection,” said Cardinals President Bill DeWitt III.
He said those who have pre-leased units include young professionals and families, travelers looking for a home base in St. Louis and businesses and corporations. DeWitt said several factors are driving interest in the project.
“One, I think we’re underserved in the downtown market for high-level residential,” he said. “Two, you’ve got proximity in the sweet spot of the Cardinals games, the river, the Arch, the downtown skyline and this other new construction we have going. And then three, I think it’s all these amenities we’ve built around it.”
One Cardinal Way will move its first tenants into the facility in June 2020, and the cheapest units still available start at $1,435 per month. So far, 15 of 21 floors located above the building’s parking garage have been poured.
“We’re going up at a clip of about one floor every 10 days,” DeWitt said.