OPUS Planning Apartment Building at Former Cupples 7 Site
Updated: Dec 22, 2020
The former site of the Cupples 7 Warehouse has a proposal to become a 6-story apartment building by the OPUS Group.
According to the November 2020 LCRA Agenda, the OPUS Group is proposing a 6-story, 146-unit apartment building on the site at 11th and Spruce. The building will also include a 55 space parking garage and 3,000sf of commercial space along Spruce Street. The project will be the first by OPUS in Downtown St. Louis and will be the first new-construction apartment project in this part Downtown outside of Ballpark Village. The project is also the first new proposal in the Cupples Warehouse District since the Koman Group's (now KDG's) Cupples X project proposal.
1014 Spruce, which is the address of the development, is currently a vacant lot. According to the LCRA Agenda, OPUS would buy the land for $2.5 Million and construct the new building for $31.4 Million. A tax abatement of 10 years at 75% is being considered. The LCRA will review the tax abatement request at their November 17th meeting. It is expected that 1014 Spruce will go before the Preservation Board at some point.
In a statement, Ryan Carlie, who is the director of real estate development at the OPUS Group, had this to say...
“We are in the early stages of planning a mixed-use multi-family and retail development on Spruce Street in downtown St. Louis and have been collaborating with our stakeholders throughout this process. We look forward to sharing further information in the coming months as this project continues to develop.”
OPUS has developed a few projects in the St. Louis area over the past few years including Citizen Park in the Central West End, Ceylon in Clayton, and a warehouse in the Kosciusko Neighborhood. They were previously involved with an office development at 1000 Jefferson in Lafayette Square.
1014 Spruce is returning to the City of St. Louis LCRA on December 15th with a reduced incentives ask. Previously, the plan was a tax abatement worth 75% for 10 years. The new ask is a tax abatement worth 40% for 10 years.