King Realty Advisors, a St. Louis city-based real estate firm, is moving forward with plans for an estimated $32 million, mixed-use development at 1801 Washington Ave. in St. Louis’ Downtown West neighborhood.
Developers Bryan King and Brad Waldrop are working with HDA Architects to design 184 studio and one-bedroom apartment units that will sit above 7,300 SF of retail space and a 220-stall parking garage.
King Realty Advisors acquired the property - currently a parking lot - in 2017 for $2.5 million. With the addition of several big-city projects, including renovations at Union Station, MLS Soccer Stadium and the new National Geospatial-Intelligence Agency headquarters, the firms believe the timing is right for the new development.
“We’re honored to be part of this development and very much agree with King Realty’s vision on this product type for that location. This mixed-use development will do very well with all the momentum taking place in this section of downtown St. Louis,” said Patrick Holleran, vice president at HDA Architects.
The plans include a surplus of amenities including a pool and lounge area, a pet-friendly dog park and wash station, 24-hour fitness center and beer taps tied to room key cards, to name a few, to help attract residents and revive the neighborhood, which has not seen new construction in over fifty years.
The Board of Aldermen is expected to review King Realty's request for a 10-year tax abatement at a later date. The developers are also seeking sales tax exemption on construction materials for the project.
No general contractor has been selected.
Link to view a fly-around view of the project: https://hda.egnyte.com/dl/ziaW3odOW5