ST. LOUIS — Prominent St. Louis developers Green Street and Seneca CRE are teaming up on a roughly $250 million redevelopment of "Old Webster" in Webster Groves.
The two developers, working under the name of SG Collaborative, were selected in 2020 by the city of Webster Groves to redevelop the area encompassed by Gore Avenue, West Kirkham Avenue and Rock Hill Road in northern Webster Groves. The city, in its request for proposals, said it wanted a plan to connect the area with the rest of the city while also promoting new development. Webster Groves says the area is in need of a revamp, having started to decline, while also seemingly disconnected from the rest of the city.
Plans are preliminary right now — SG Collaborative is preparing to make a formal submission to the city — but the developers are proposing 600-750 multifamily units, eight to 20 townhomes and/or single family homes, 45,000-60,000 square feet of commercial space and potentially 100,000-120,000 square feet of office space. Workforce housing could comprise 10% of the planned residential units. The investment cost of the entire project is estimated to be $250 million, though that figure could change depending on the final plan, SG Collaborative officials said.
The project is dependent on a series of city approvals, and no firm timeline of construction has been set yet.
SG Collaborative is expected to meet with the city and Development Strategies, which the city tapped for a financial feasibility study, sometime in the next few months, said Seneca CRE President Larry Chapman.
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