Updated: Nov 13, 2019
McRee, between Vandeventer and Kingshighway is pretty forgettable. It’s a mix of industrial buildings, a recycling center, and the City Water Department. However, if plans by Clayton based Green Street happen, a good chunk of this stretch will look radically different in a few years.
Green Street’s plans call for a mix of bar/restaurant space, office space, and a brand new entertainment venue. The entire cost of construction is $37 Million. Acquisition of the properties totals out to be $3.7 Million. One building will be preserved and redeveloped as a result of this project, that one being the Cardinal Building Supply building at 4565 McRee. 4591 McRee is the building that will be demolished for the entertainment venue.
The proposal also entails building a large parking lot behing 4565 McRee to serve the two buildings. The parking lot will also act as a buffer between the Union Pacific and BNSF rail lines.
Green Street appeared before the LCRA on November 6th to request tax abatements for the project. The requests made had the Entertainment venue receiving a 90% tax abatement for 10 years while the parking lot and office/retail building would receive a 50% tax abatement for 10 years.
Arcturis is acting as the architect on the project. No set timeline has been given on the project at this time. According to a City property search, Green Street owns the properties under the entity “Green Street McRee Investors”. Tax incentives and plans still need to be approved by the city prior to construction starting.
This project joins a flurry of other projects being backed by Green Street in Forest Park Southeast. The biggest of which is the Unify and Swan developments near Taylor and Vista. Green Street is also the developer behind the Armory and a codeveloper on the Chroma project.
Below is a site plan from the Novemebr 6th LCRA agenda...