HBE Corp. Plans $275M Clayton Condo, Hotel Project

By on February 12, 2019

From St. Louis Post-Dispatch:  HBE Corp. President Fred Kummer is planning a $275 million condominium and hotel development in downtown Clayton.

The plan from Kummer, 89, first reported by the St. Louis Business Journal, could add two more towers to Clayton’s skyline, one a hotel and the other a condominium building.

“There’s currently just an abundance of apartment towers in the city of Clayton,” said Stafford Manion, president of Clayton-based Gladys Manion Real Estate, who is working as a consultant on the project.

“They’re all very attractive and doing fairly well. But there has been no condominium development in the city of Clayton for a very long time.”

Clayton’s condo high-rises, the Crescent, Maryland Walk and the Plaza in Clayton, all opened more than a decade ago. More recently, developers have added hundreds of rental units to the district.

Kummer’s HBE Corp., founded in 1960 and based in Creve Coeur, was one of the largest private companies in the region and used to own the Adam’s Mark Hotel chain before deciding to solely focus on its other business of building hospitals and medical facilities.

HBE closed Thursday on the purchase of several parcels, most owned by the Gershman family. A purchase price was not disclosed.

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