CLAYTON — A local developer is proposing a $100 million redevelopment of a prominent corner here in a bid to build more housing in the seat of ºüÀêÊÓƵ County and one of the region’s key business hubs.
Green Street Real Estate Ventures plans to build a 20-story building with 270 apartments, including a rooftop deck and garden, at the northeast corner of Bemiston and Carondelet avenues in downtown Clayton. The site is now a branch office for Poplar Bluff-based Sterling Bank, a partner in the project.
Sterling, which is not financing the development, will occupy the first floor and have a walk-up ATM and 10,500 square feet of branch offices. A 380-space parking garage also is planned, Green Street officials said in an interview. Sterling Bank owns and occupies the existing property.
The firms are aiming to draw a younger crowd to Clayton and help generate more business for nearby restaurants and retailers. The site is just south of the popular Café Napoli, among other restaurants.
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“It’s one way to create vibrancy and keep people here to spend their dollars in the community,†Green Street founder and CEO Phil Hulse said.
The announcement of the Clayton project, at 50 South Bemiston Avenue, comes a day after Webster Groves denied Green Street’s and partner Seneca Commercial Real Estate’s $320 million housing and commercial project at this week’s city council meeting.
Green Street will formerly present its proposal to Clayton officials in the first quarter of 2022 and expects a six- to nine-month approval process. As part of that, the firm held a community information session Wednesday at the Center of Clayton.
“If we can duplicate a live-work-play concept here, at least add to the overall fabric of Clayton, that’s the goal,†said Green Street Principal Kevin Morrell.
Green Street’s architecture firm, HDA Architects, is designing the project. Its construction firm, Green Street Building Group, will build it along with ºüÀêÊÓƵ-based Tarlton Corp.