The growth of the Central West End continues with a sizable proposal from Balke Brown.
Planned for the surface parking lot at 4915 West Pine (just West of the Euclid and West Pine intersection) is a 7-floor, 146-unit apartment building. The building will also include a 146 space parking garage for a 1:1 ratio of parking space to apartment unit. Residents may not need to drive everywhere as the neighborhood is one of the most walkable with multiple stores, restaurants, bars, a grocery store, and more but at least parking is available for those who will drive places.
The development will take up the entire parking lot bounded by the Euclid+Pine apartments on the East, alley on the North, the Del Coronado on the West, and West Pine Boulevard on the South. 4915 West Pine will be entirely made up of 1-Bedroom apartments, which bucks the trend for a mix of studios-3 bedroom units in new projects in the Central West End. It also allows for the building to be a bit more dense than your other projects recently proposed or built in the neighborhood.
At the ground level, no retail space will be featured, but there will be entrances to the apartment building at the street level to try and spruce the area up a little. Besides that, there will also be parking vents. Anything is truly better than a parking lot. Parking garage access appears to not require a curb cut on West Pine. Instead, that could mean the garage will be accessed through the alley.
Balke Brown has requested a 10 year tax assurance from the City that includes a fixed schedule of payments in lieu of taxes (PILOTs) equaling, annual real estate taxes of $850 per unit and annual real estate tax increases of 2.5%. No other incentives will be sought by Balke Brown for the project. The LCRA will review this request at their October 22nd meeting.
The property the building will be built on has yet to be acquired by Balke Brown from Emerald Equity Group, but they intend on doing so soon. The cost of acquisition, according to Balke Brown, will total $2,081,200. No timeline on the acquisition was given. The cost to build 4915 West Pine will be $37 Million. The entire development will cost a combined total of just over $39 Million.
Units at 4915 West Pine will range in size from 480SF to 780SF. Rents will also range from $1300 to $2000 monthly.
Balke Brown has some experience in building multi-family buildings in the St. Louis area. They recently completed Encore at Forest Park and Cortona at Forest Park communities. Both are part of the Highlands Complex on Oakland. They are also doing the Whispering Heights project in Edwardsville, Illinois. Balke Brown's residential division is known as 2B Residential.
The architect is Humphrey's and Partners. No timeline for 4915 West Pine has been given.
New Development in the CWE...
Currently, the Central West End has 651 apartments in development spread out over 3 new buildings. 2 are proposed and 1 is under construction.
100 Above the Park: 305 Units
4545 Laclede: 200 Units
4915 West Pine: 146 Units
The neighborhood is also seeing the construction of...
AC Hotel: 192 Rooms
The Artizen Town Homes: 13 Homes
West Village Town Homes: 6 Homes
In addition to these proposed and under construction projects, the neighborhood has recently seen 4 sizable residential projects open up. Those being...
Citizen Park: 217 Units
The Orion: 178 Units
The Euclid: 71 Units
4101 Laclede: 54 Condos