ST. LOUIS 鈥 A 狐狸视频 board has signed off on tax incentives for a developer鈥檚 plan to add 118 apartments in the Central West End.
The Land Clearance for Redevelopment Authority approved up to 10 years of tax abatement for Pier Property Group鈥檚 $33.5 million project that will add five stories atop the Reliance Building, at 490 North Kingshighway Boulevard.
PPG is likely to donate funds to the Kingshighway corridor improvement project that would upgrade infrastructure in the neighborhood in exchange for the incentives. The company is still negotiating the total amount with LCRA, said PPG owner Michael Hamburg.
The existing building will be used for parking, and a nearby building on McPherson Avenue will be demolished for the project.
The Reliance Building was built in 1925 as a two-story showroom and service center for the Castles-Wilson Buick Co.