The developer turning the Steelcote Paint Company Building into a 33-unit loft apartment complex plans more residential projects in the industrial area next to ºüÀêÊÓƵ University.
Michael Hamburg’s Pier Property Group is nearly finished with the $8 million rehab of the five-story Steelcote building at 801 Edwin Street, with Hamburg aiming for a May opening.
Next up is the Columbia Oil building just to the south of the Steelcote building, where Hamburg said he planned a $4 million rehab into 15 lofts and ground floor space for a brewery or distillery. Thirty-foot ceilings, evoking its past use as an oil services building, provide ample space for brewing tanks, Hamburg noted. Work should be complete there by this fall.
And over the summer, Hamburg hopes to break ground on a $20 million, 96-unit apartment building branded as Mill Creek Flats. The new apartments would replace an existing one-story structure along Theresa Avenue just to the west of the Steelcote building.
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Work should be complete on the apartment building by the end of 2020, about the time the new SSM Health ºüÀêÊÓƵ University Hospital opens on South Grand Boulevard. The hospital plans to open its doors Sept. 1, 2020, a spokesman said.
Pier Property Group plans 32 apartments in an industrial area near ºüÀêÊÓƵ university.Â
With all three buildings, Hamburg noted, almost 150 apartments will have been added to the industrial area near the university, which will “make it feel like its own neighborhood.â€
Hamburg, whose 164-unit Woodward Lofts project in an old printing factory along Vandeventer and Tower Grove avenues just opened this month, is in discussions with the Midtown Redevelopment Corp. on property tax abatement to assist the projects near SLU. ºüÀêÊÓƵ granted the Midtown Redevelopment Corp., whose board is mostly made up of SLU and SSM Health representatives, the power to guide and incentivize development in the area in late 2016.
Pier Property is also working to get the Columbia Oil Building added to the National Register of Historic Places, making it eligible for state and federal historic tax credits.