In December 2017, a development plan was unveiled to demolish the existing 300 South Broadway and replace it with a 33-story apartment tower. In September 2018, the window to acquire the building shut and the development was dropped. In June 2019, the building was put under contract by an unidentified developer. That sale fell through later on in 2019. Then in the summer 2020, it was announced the the third buyer closed on the sale of the building officially acquiring the property. That entity is Creve Couer-based Bamboo Equity Partners. The partner developer on the project is Pier Property Group, which has done projects such as Woodward Lofts, Steelcote Lofts and Steelcote Crossing as well as new construction projects such as the Flats at Dorsett Ridge (under construction) and Mill Creek Flats (pending start). PPG is also working on the Rock Spring School in the Grove.
Plans call for the preservation of the existing building, which is a sure win with preservationists who made a large effort to preserve the building when the 33-story tower was planned. A floor would be added to the building and be clad in mostly gray brick. If you look closely at the rendering, at least a portion of the new floor will have a semi-mansard look. The rest of the new addition will be clad in, what is assumed to be, corrugated metal.
The way the new addition is designed allows for two outdoor decks. One with a view of Downtown and Ballpark Village and the other with a view of home plate in Busch Stadium. The existing building's roof sits slightly higher than the amenity deck at One Cardinal Way. The rooftop will also feature bleachers for residents to sit on when watching a game.
The overall redevelopment of the building will see 80 apartment units, some will have a view of the Arch, along with 3,800sf of ground floor retail space, which sets up well to be a sports bar. On the amenity side of things, residents of the building will have access to both of the rooftop decks and...
An open air courtyard with a pool
Fitness center
Distanced co-working space
Lounge space
Arcturis is the architect on the project. The City of St. Louis LCRA lists Pier Property Group as the main developer on the project. The requested tax abatement on the property is 10 years at 90%. The total cost of the redevelopment is estimated at $21.3 Million. The LCRA will review the tax abatement request at their August 25th meeting. No word yet on if the Preservation Board will have to review the plans, but it is expected that they will have to.
There is no timeline yet for construction on the project but I'll keep people updated if any information regarding a timeline is released.
As was said by many people back when the high-rise was unveiled, there are better opportunities for new high-rises downtown than 300 South Broadway.
