ST. LOUIS — A vacant commercial building once targeted for demolition that has been called “one of the last developable buildings downtown,” could receive city incentives to be converted to an adult day care.
The first two floors of the five-story red brick building at 1105 Olive St. would be turned into an adult day care in a $1.92 million plan under consideration from owner and developer Corica Group, according to city filings.
Corica Group Home Health Care currently operates out of an office at 2911 Olive St. in Midtown.
The city’s urban renewal board, the Land Clearance for Redevelopment Authority, will consider at its meeting Tuesday whether to approve up to 10 years of property tax abatement for Corica Group’s proposal, based on 75% of the assessed value of incremental improvements.
