ST. LOUIS — The city of St. Louis is pursuing the maximum amount of tax incentives possible for a developer seeking to convert a long-closed school in north St. Louis into apartments.
Fleur De Lis Development Corp. is pursuing an $18.5 million residential and retail redevelopment of Simmons School, a school at 4215 Kennerly Ave. in The Ville neighborhood that closed in 2009 and has been vacant since. The school was originally built in 1899, and the project would involve using federal and state historic tax credits for financing.
The renovation includes about 58 residential apartments, along with 1,700 square feet of ground-floor retail, according to city filings.
Of the units, 26 would be one-bedroom apartments estimated to rent at $1,250, or $1.49 a square foot, and 32 two-bedroom units that would rent from $1,650 to $2,000, or $1.40 a square foot.
The retail would entail a location of The Home Store and a laundry service, the city said.
Read more of the story on the St. Louis Business Journal website.
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