Opus to Develop M-F in Historic St. Louis Neighborhood
- Jan 15, 2015
In partnership with AIG Global Real Estate, the Opus Group has started construction on a 12-story luxury apartment building in the Central West End neighborhood of St. Louis, Opus announced Wednesday. Completion is scheduled for fall 2016.
The building will have 217 apartments, including alcove and one- and two-bedroom apartments, in addition to penthouses on the top two floors. The apartments and penthouses will range from about 550 square feet to 2,000 square feet. Units will feature high ceilings, balconies and high-end finishes including granite countertops and stainless-steel appliances.
(An alcove apartment has an inboard bedroom that maximizes exterior glass in the living room, explained Joe Downs, senior director of real estate development at Opus Development Co. L.L.C. The size of an alcove is between a studio and a traditional one-bedroom, he added, so it appeals to renters who want to hold down their monthly rent, but want the privacy of a bedroom.)
The building’s amenities will include a fitness center with Fitness on Demand, pool terrace with outdoor grilling space and fire pits, bar and club rooms, a dog wash and underground parking, guest suites, secure bike and resident storage with an area for bike maintenance, and full-time concierge services.
The ground level will have 10,000 square feet of retail space and parking for retail customers.
Opus Development is the developer, Opus Design Build L.L.C. is the design-builder, and Opus AE Group L.L.C. is the architect and structural engineer of record. Conceptual design services were provided by ESG Architects, of Minneapolis.
The Central West End neighborhood is known for its architecture, pedestrian-friendly streets, recreational opportunities in the 1,300-acre Forest Park, restaurants, shopping and nightlife, Downs Downs told Commercial Property Executive. It’s also within walking distance of two major area employers, the BJC Medical Center and Washington University School of Medicine.
“The combination of the market’s tight 4 percent vacancy rates and pent-up demand makes the timing right for this project,” Downs said. “That, in addition to the project’s prime location and our first-mover advantage given modest new competitive supply in the area, make this a very attractive investment for Opus.”