A $232 million Downtown West mixed-use project progressed last week after the Land Clearance for Redevelopment Authority Board approved $171 million in remaining bonds and granted a construction sales tax exemption. The AHM Group-led project spans 12 acres on Locust St. and Washington Ave., aiming to revitalize the area near CityPark with over 450 apartments, office spaces, and retail establishments.
Above: A rendering of the 29-story, high-rise apartments planned for Downtown West near CityPark. Image courtesy of AHM Group
The development will incorporate both renovated structures and three newly constructed buildings, including a prominent 29-story mass timber high-rise. Last week's LCRA Board vote facilitated three separate taxable industrial revenue bonds and corresponding property tax abatements for each site, with $60 million already approved in previous bonds.
The project is positioned to capitalize on local demand and is situated near key St. Louis locations, including St. Louis University, CityPark, Union Station, and the National Geospatial-Intelligence Agency. The development will offer a balanced array of residential, commercial, and office spaces, with affordability options targeting those earning 60% to 80% of the area's median income.
As AHM Group prepares to secure additional investors, the project's ground-breaking is anticipated for early next year. This initiative contributes to the area's ongoing growth, joining recent developments like the Victor in the Butler Brothers Building.
Header image: A rendering of a new apartment building at 21st St. and Washington Ave. in Downtown West near CityPark. Image courtesy of AHM Group