$152M Lafayette Square Development Could Begin This Spring

By on November 30, 2018

From St. Louis Post-Dispatch:  A key panel of St. Louis aldermen on Wednesday endorsed a package of property tax breaks to assist a $152 million development of houses, apartments and commercial space near the corner of Chouteau and Jefferson avenues in Lafayette Square.

The 13-acre project led by former HOK principal Bill Odell, who spent over 30 years at the architecture firm, could take as long as eight years to fully build out. But Odell said if aldermen sign off on zoning changes and tax abatement, the first phase of town houses and apartments along Hickory Street could start this spring.

The hearing at the St. Louis Board of Aldermen’s Housing, Urban Development and Zoning Committee also provided new details on the density and scope of the project that the developers have been hesitant to share.

Plans call for 500 residential units and 120 condominiums in the area along Chouteau Avenue, along with some 84,000 square feet of commercial and retail space.

Partnering with Odell is Paul Hamilton, an owner of popular restaurants Vin De Set and Eleven Eleven Mississippi. A company tied to Hamilton owns the lot just to the east of the Praxair site. The owner of the Vanguard Truck Center property at the corner of Chouteau and Jefferson avenues, Tom Graddy, is also a partner. The developers plan to finance about 20 percent of the project with their own equity, according to a city analysis.

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