Clayton's PNC Bank and Gershman Buildings to be Redeveloped for M1 Bank
The evolution of Downtown Clayton continues with Ken Poteet, President of M1 Bank, looking to redevelop the old Gershman Building at 7 North Bemiston and the PNC Bank Building at 7801 Forsyth.
According to the Business Journal, which ran an article on Wednesday regarding this specific project, Core10 Architects has been tapped to realize the redesign process of the interior and exterior of the Gershman Building and PNC Bank building. According to the Business Journal, Poteet plans to spend $10 Million on the project that will ultimately include 7000SF of office space and 7800SF of indoor and outdoor event space. The event space, which will most likely be retail of some kind, will follow Clayton's plans for a Downtown Entertainment District within this block.
Another building, the one that houses "The Wine Merchant" will remain as the Wine Merchant. Work on the Gershman Building at 7 North Bemiston will be complete by years end and be home to M1 Bancshares which is the holdings company for M1. The main offices for M1 Bank will move into the PNC Bank Building following PNC's lease ending in December 2022. The redesign of the façade and interior work for this building, 7801 Forsyth, should be completed by the end of 2020 and include a new exterior elevator. Both exterior alternations, of 7801 Forsyth and 7 North Bemiston, will have to be reviewed by the City of Clayton's Architectural Review Board.
The M1 Bank project occupies a large portion of the block, about 35% of the block. Fred Kummer's project, which will be built directly North of here, occupies 50% of the block. The 20% is made up by miscellaneous buildings and businesses.