Luxury apartments to be built across from new stadium

06:20 PM CDT on Wednesday, October 12, 2005

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(KMOV) -- Developer Steve Brown rushed to take advantage of the new Cardinals stadium downtown, leading a group to buy the former Pet Company headquarters at 400 south 4th Street.

KMOV

"We really see it as the first building of Ballpark Village," said Brown.

The building stands 16 stories high and is directly east of the new stadium.

A $45 million renovation will give a select few a chance see the crowds, feel the energy and watch a game on their own big screen.

In just a few months, workers have demolished former office building and begin to build the first of 118 new luxury apartments.

"This will address a different market segment that might otherwise be living in Clayton. I don't see as much as competing with the lofts, but adding to the residential and commercial fabrics of downtown,” said Steve Brown with Balke Brown Associates.

Downtown development leaders say the project does complement dozens of loft-living projects to the north, will jump-start other ballpark developments and ties into the redevelopment of the arch grounds and the riverfront.

"The south portion of downtown is really on the on the front of end of being another sub-neighborhood of downtown," said Jim Cloar with Downtown St. Louis Partnership.

Workers will spend several months refinishing the outside of the structure to give the building a new, cleaner look.

It will also house a new restaurant and possibly a bank.