$3.6 Million Residential Development Underway Near Soulard

By on December 7, 2018

From St. Louis Business Journal:  Construction on a multimillion-dollar residential development in St. Louis’ LaSalle Park neighborhood, near Soulard, is underway. 

The eight-lot project, called Park 10 – St. Louis, includes duplexes and single-family townhouses. E-404 Construction is developer on the project.

The developer closed on the project’s land earlier this year, E-404 President and CEO John Rooney said. The property, located near Park Avenue and 10th Street east of Ray Leisure Park, was acquired from N.D. Properties LLC. Rooney said his firm has broken ground on the site. Property acquisition, remediation and legal costs totaled $320,000, according to Rooney.

The Park 10 development includes two floor plans, which start at 1,728 and 2,000 square feet in size, respectively. The floor plans include three bedrooms and two-and-a-half bathrooms, with the option to include an additional bedroom and bathroom. Homes in the development will be priced starting at $390,000, and buyers will receive a five-year, 80 percent property tax abatement. Rooney said he expects the development to be worth about $3.6 million when completed.

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