Commentary and Analysis on Businesses and Commercial Real Estate In and Around Downtown St. Louis.
Thursday, December 10, 2009
HRI to Develop Artists Lofts at Bottle District
Tim Bryant of the Post-Dispatch had a great article on the Bottle Art Lofts, the newest project from Historic Restoration Inc.
HRI plans to convert the vacant McGuire Moving & Storage building at 1333 North Sixth Street to roughly 70 apartments geared to artists. The $22.2 million project will also include a 7,600 sf gallery and performance space.
HRI is partnering with Clayco Construction on the project. Pending approval on $1.35 million in federal low-income housing tax credits in February, the developer hopes to begin work on the project in July.
It’s great to see that HRI is continuing to develop projects in St. Louis; they were instrumental in helping to spur downtown’s revival, renovating the Lenox and Statler Hotels as the Renaissance Hotels, the Merchandise Mart and a Cupples Station warehouse.
It is also great to see this project moving forward. Hopefully, the Bottle District will be allowed to develop organically, as a neighborhood, with a variety of developers contributing different ideas for the area. The original approach, a self-contained entertainment district similar to what is planned for Ballpark Village, was doomed to fail from the start.