ST. LOUIS — Nearly two dozen redevelopments over the past decade helped push St. Louis to be among the top five cities with the most historic conversions of buildings, according to a new report.
A RENTCafe study found that the City of St. Louis is No. 5 out of 30 surveyed cities for the most number of buildings transformed into apartments. Since the 1950s, the city has converted 62 buildings into multifamily developments with 50 or more units, with 23 of those projects taking place over the past decade.
Of those converted buildings, 19 were former factories and 26 were old hotels and office buildings, RENTCafe said.
Those projects, also called adaptive reuse, brought 7,197 new apartments to the city market.
The RENTCafe study only surveyed the city of St. Louis, rather than the entire metro area, and only included those projects that created 50 or more apartments.
Topping the RENTCafe list are: Chicago, with 14,167 units created; Philadelphia with 11,266 units; Los Angeles with 10,569 units; and New York with 18,488 units. Kansas City came in eighth with 5,305 units.
The conversions in the city of St. Louis include the Arcade Building at 800 Olive St. that added 282 units in downtown St. Louis at the former office building; Coronado Place with 406 units at 3701 Lindell Blvd. in a former Grand Central hotel; and the Lofts at Lafayette Square, which was a former shoe factory at 1119 Mississippi Ave., where 109 apartments were created.
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