ST. LOUIS (KMOV.com) - If you drive on Interstate 64 it’s impossible to miss major redevelopment projects unfolding in Midtown St. Louis.
Green Street St. Louis is transforming the former Armory into office space. It’s a $70 million project.
Phil Hulse says, “We look to be 100 percent leased in 2019, and deliver the building in 2020.”
He says businesses from outside the St. Louis market are interested including a potential tenant looking at more than 100,000 square feet.
Green Street St. Louis also owns the building directly next to the Armory. Hulse says that building will be demolished in 2019, and eventually residential units will rise in its place.
Over the next decade, Hulse expects major changes and adds, “Instead of being a dead industrial zone this is going to be a vibrant place.”
Directly across the interstate, the City Foundry project is quickly moving ahead.
Steve Smith of the Lawrence Group is developing the project. He says the former industrial site will house a large food hall, offices, retail and a 10-screen movie theatre.
It’s a unique project in St. Louis but modeled after similar projects in other major markets.
Smith said, “Literally the idea is where can we do something cool like this in St. Louis.”
Similar to Hulse, Smith is making bold predictions for the Midtown corridor.
Standing amid earth moving equipment Smith said, “You are going to see continual significant growth in housing” and “in 10 years you’re going to have 5,000 if not 10,000 people living in this broader area and lots of new businesses.”
Both developers believe growth at the Cortex Innovation District along with investments made by St. Louis University and Washington University are driving growth in the region.
Nearby, St. Louis University Hospital’s new $550 million campus is rising.
In the Central West End, the One Hundred Apartment Tower is several floors out of the ground and will eventually stand nearly 40 stories over Kingshighway.
According to the City of St. Louis nearly $8 billion-worth of development is planned or underway in the city.
Smith told News 4 he drives potential investors around the city and “they are blown away by what’s happening.”