The Ashland Branch School, at 4415 Margaretta in the Penrose Neighborhood, is being eyed for a conversion into 24 apartments.
City of St. Louis Property Records show that the building is owned by N-JEPS Properties LLC., which returns a company owner name of Nina Algee, and mailing address in the Shaw Neighborhood. N-JEPS has owned the property since last June per property records.
A $5 Million building permit application for the 24 apartment conversion, apparently all studios, was applied for on March 26th but has yet to be issued. The Ashland Branch was built in 1964 and built to conform with the historic surroundings of the neighborhood. The school was named for the City of Ashland, Kentucky, home of former U.S. Senator Henry Clay. The building closed in 2009 and is 16,419sf. It was listed for sale by the St. Louis Public Schools system for $107,000. A full redevelopment cost is not yet known. It's also not known if the developer intends on seeking tax incentives to help finance the project.
The development joins a series of other promising developments coming out of North St. Louis recently. Others include...
The redevelopment of the Webster School in Old North St. Louis into senior apartments.
Redevelopment of 2000 North Broadway into apartments and office space.
The City District in the O'Fallon Park Neighborhood, which will bring new and renovated homes and commerical buildings as well as green space.
Numerous new-build single-family homes throughout North City area.
Renovations of existing apartment buildings in the Academy and West End Neighborhoods (some underway).
Doorways Housing on Jefferson at Gamble Street (underway).
