The challenges and opportunities behind St. Louis' mega developments

According to Christopher Fox, CEO ⎜managing principal at Gershman Commercial Real Estate, mega developments, in many cases, take mega years, and are driven by the three C’s:  carry, capital and construction.

“All are, at various levels, a real challenge,” said Fox, who served as the facilitator at MetroWire Media’s recent St. Louis Mega Developments Summit 2025.

Panelists Nicholas Cook, development manager at Panattoni Development Company, Inc.; Evan Glantz, partnerships & development manager at Steadfast City Economic & Community Partners; Tim Lowe, SVP of development at The Staenberg Group; and Adnan Omeragic, president at Fox Architects, joined Fox to showcase their companies’ projects and to discuss some of the challenges they face in today’s economic and political climate.

The Staenberg Group (TSG) commenced work on the Downtown Chesterfield redevelopment project in 2017, when it began assembling the land.  The project encompasses approximately 120 acres at the site of the former Chesterfield Mall, most of which now has been demolished.  Demolition began in October, 2024, and will be complete next month.   The buildings housing Macy’s and Dillard’s will remain.  The Macy’s store will be redeveloped and repurposed, Lowe said.

Lowe said TSG plans to start infrastructure in April, 2025, and complete it in the summer or fall of 2026.

“When I say infrastructure, what that means is we’re going to go in and we’re going to build all of the horizontal public infrastructure, all of the roads, sidewalks, medians, streets, landscaping, bike path, pedestrian path, park,” said Lowe.

Once infrastructure is installed, including utilities, TSG plans to sell dirt lots to residential developers. Lowe estimates there will be approximately 12 lots. The property is zoned for approximately five million SF of total density, which allows for approximately 2500 residential units.  

Above: Over 80 attendees listen in at MetroWire Media’s Mega Development Summit 2025 panel discussions. Photo credit: Drew Edelstein

“In today’s market, residential is the opportunity. . . . This is an urban downtown.  It’s really important to bring residential in first because residential is what creates the community,” Lowe said.

According to Lowe, approximately 200,000 SF of retail space can be included in the development, and most of the retail will be located on the first floor of the residential buildings to create more of a downtown feel.  Lowe said TSG will control the retail space and plans to buy back all of the first-floor condos of the residential buildings.

“We don’t see that happening on a building-by-building basis.  We see it happening more cohesively with one big retail program that we would control and that we would own,” he said. 

The development also will include a public parking garage with an estimated 1300 spaces and street parking for 400 vehicles.  

“We’ll be able to accommodate not just those that live there or work there, but we’ll be accommodating people in the region who want to go to the project,” Lowe said.

According to Omeragic, the story of the Advanced Manufacturing Innovation Center St. Louis (AMICSTL) started in 2014, and really took take shape when AMICSTL received funding through the federal government’s Build Back Better program.  The building’s physical space has been designed, and it will support a diverse range of activities focusing on eight key industry sectors—aerospace and defense; agricultural technology and plant sciences; automotive; biomedical and life sciences; construction; energy; geospatial and location sciences; and transportation and logistics.  

The project is out for bid with general contractors, and Omeragic said he expects that process to be complete within four or five weeks.  The project is located adjacent to the campus of Ranken Technical College and will consist of three main components—high bay manufacturing, lab testing spaces and workplace community engagement.  

“One special component that was placed inside of the building is this community engagement space where we’re allowing the local youth to actually come inside of the building and experience 3-D printing and the modeling and experience what advanced manufacturing really is,” Omeragic said.

Describing the project as “catalystic,” Omeragic said AMICSTL is focusing on creating a community project that benefits the community and the region as a whole.  

He said educating the community about how the facility will function has been crucial to dispel the misperception that these types of facilities have big smokestacks and big trucks constantly accessing them.

Above: Nicholas Cook discusses Panattoni’s mixed-use development beginning later this year in Maryland Heights, Mo. Photo credit: Drew Edelstein

Although Panattoni is known as a developer whose projects are mostly industrial spec, Cook said his company has plans to create a 300-acre master planned mixed-use development in Maryland Heights, Missouri, along Missouri Route 141 and adjacent to Creve Coeur Park.  Approximately 75 acres has been allocated to multifamily, which will be developed in multiple phases.  Panattoni expects to break ground on the first phase within the next year and deliver 275 residential units.  Approximately 42 acres will be developed for retail use, with the remainder to be industrial.  

Funding is crucial to make the mega developments work.  Cook said what has made this project possible, particularly on the industrial side, is the incentives.  The developer has secured Chapter 100 tax abatement from the state.  He said another key driver for the project is a public private partnership.  The property is located within the Howard Bend Levee District.

“They just installed this new pump that helps to make all the ground that’s within that sub district of the Howard Bend Levee District more developable,” said Cook.

Developers often rely on firms like Steadfast City to help them secure economic incentives and tax credits by negotiating with the various jurisdictions.  

“We work with clients from the very beginning of their project, and make sure that the numbers pencil out.  A lot of it is capital stack development and advising on what incentives, what programs might be available and then again, helping negotiate incentives with respective parties.  Truthfully, a lot of it is education, . . . We help with incentive strategy and then it’s about pitching the project,” Glantz said.

On each phase of the Chesterfield project, Lowe said TSG goes back into the market to look for new capital.  Interest rates currently present the biggest challenge to getting the project financed.  

Cook said that the notion of tariffs and some of the resulting pricing uncertainty is a concern as Panattoni starts phase two of its project.

“An increase of 10 cents a foot of steel doesn’t sound like much, but with the amount of steel that goes into some of our buildings, that can crush a pro forma.  We’re really hoping to find more certainty there,” said Cook.

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Header image: MetroWire Media’s St. Louis Mega Developments Summit 2025 panelists. From L to R: Christopher Fox (moderator), Nicholas Cook, Evan Glantz, Adnan Omeragic, and Tim Lowe. Photo credit: Drew Edelstein

Optimizing federal space in St. Louis opens doors for economic expansion and community investment

The U.S. General Services Administration (GSA) has identified multiple federal properties in the St. Louis metropolitan area as "non-core," placing them on a list for potential closure and sale as part of a nationwide initiative to optimize government operations and enhance efficiency. While the move is part of a broader effort targeting more than 440 federal buildings across the country, it also presents opportunities for redevelopment and economic growth in the region.

Among the properties affected is the Robert A. Young Federal Building, located at 1222 Spruce St. in downtown St. Louis. The 20-story, nearly 1 million SF facility is home to multiple federal agencies, including U.S. Citizenship and Immigration Services, the Internal Revenue Service Taxpayer Assistance Center, and the U.S. Army Corps of Engineers' St. Louis District. Its designation as "non-core" suggests a potential closure and sale, creating the possibility for repurposing the space to serve the community better. Similarly, the Charles F. Prevedel Federal Building at 9700 Page Ave. in Overland, which houses the St. Louis Veterans Affairs Regional Office and the National Agricultural Statistics Service, is under review for potential transition, opening the door for innovative reuse or private sector investment. Additionally, the Federal Mediation and Conciliation Service office, located in the University Tower at 1034 S. Brentwood Blvd. in Richmond Heights, is slated for lease termination.

Above: Inside the Robert A. Young Federal Building could soon be vacant. Image courtesy of Etegra

The federal government's push to optimize its real estate portfolio is part of a larger strategy led by the Department of Government Efficiency. The GSA plans to repurpose or sell more than 500 federal buildings nationwide, including high-profile properties such as the FBI and Department of Justice headquarters. According to the department, lease terminations at 22 underutilized federal properties have already resulted in an estimated $44.6 million in cost savings. While some lease cancellations have led to legal disputes, these transitions will require communities to reimagine how these spaces can be revitalized for commercial, residential, or mixed-use purposes.

The planned transitions of federal buildings in St. Louis could ultimately contribute to economic revitalization. As federal offices consolidate, there is potential for increased investment in local infrastructure, commercial development, and job creation. The private sector and city officials have an opportunity to collaborate on redevelopment efforts that align with regional needs, whether through new business hubs, affordable housing, or community spaces. As the GSA and the Department of Government Efficiency move forward with their plans, stakeholders across the region are engaging in proactive discussions to ensure these changes lead to long-term benefits for the St. Louis community.

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Above: The Robert A. Young Federal Building in downtown St. Louis, Mo. is one of several metro area to potentially close. Image courtesy of Etegra

Long-vacant Millennium Hotel site slated for major redevelopment in Downtown St. Louis

The long-vacant Millennium Hotel site in downtown St. Louis is set for a $670 million redevelopment led by The Cordish Companies, the developer behind Ballpark Village. The Gateway Arch Park Foundation has selected the firm to transform the property at 200 S. 4th St., adjacent to the Gateway Arch.

The 1.3 million SF project will include a mix of residential, office, retail, and public spaces aimed at revitalizing the area. Plans call for a 41-story residential tower with 600 apartments, a 10-story office building with 250,000 SF of Class A office space, a 35,000 SF food hall, and a 60,000 SF Arch archive. Additional features include an amphitheater and improved streetscapes designed to enhance pedestrian connectivity between key downtown landmarks, including the Gateway Arch grounds, Kiener Plaza, and Busch Stadium.

The site has remained vacant since the Millennium Hotel closed in 2014. Its redevelopment is expected to inject new energy into downtown St. Louis, spurring economic growth and reinforcing the city's position as a business and entertainment hub.

The project has received initial authorization from the Land Clearance for Redevelopment Authority, allowing the Gateway Arch Park Foundation to acquire the property from its current owners. A construction timeline has not yet been determined, but the redevelopment plan is expected to go before the Board of Aldermen in April for review and approval.

Cordish's involvement further solidifies its investment in St. Louis, expanding on its previous work with Ballpark Village. The project is expected to serve as a catalyst for additional development efforts downtown, marking a new chapter in the city's ongoing revitalization.

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Chesterfield set for transformation as City Council establishes special Business District

The Chesterfield City Council has sanctioned the Downtown Chesterfield Special Business District (SBD), implementing a phased tax plan to fund public infrastructure maintenance within the development area. This district, excluding the Dillard's property, is set to feature over 2,000 residential units, a 300-room hotel, and more than 3 million SF of commercial space, including offices, retail outlets, and restaurants.

An additional tax of up to $0.85 per $100 of assessed property value will be levied within the SBD to support these developments. This tax will apply solely to land assessments until the end of fiscal year 2029, ensuring that existing property owners are not disproportionately taxed during the redevelopment phase. By fiscal year 2030, as phase one concludes, the tax will extend to include property improvements, aligning contributions with the enhanced infrastructure and services.

The SBD's revenue will fund services such as street maintenance, lighting, bike paths, public parking facilities, pedestrian walkways, landscaped medians with irrigation, security measures, and administrative oversight. This approach ensures that property owners within the development contribute equitably to the upkeep of these public amenities.

Above: A rendering of a pedestrian path through the Downtown Chesterfield Special Business District lined with retail shops, restaurants ,and office space. Image courtesy of the Staenberg Group | Credit: Nelsen Partners

The City Council's decision authorizes an election within the district to approve the proposed tax. Ballots will be distributed by March 4, and the election is scheduled for April 15. Additionally, a seven-member advisory board will be appointed to provide recommendations on the district's operations.

Demolition of the existing Chesterfield Mall commenced in October 2024, marking the beginning of this extensive redevelopment project. Core infrastructure construction is slated to start in late 2025, with vertical development anticipated over the following decade. The initial phase aims to establish a vibrant urban center, introducing a mix of residential, commercial, and recreational spaces to the area.

This strategic development is poised to transform Chesterfield, fostering economic growth and enhancing community amenities through thoughtful planning and investment.

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Header Image: A rendering of the proposed Downtown Chesterfield Special Business District mixed-use project that includes multifamily units alongside offices, restaurants, and retail establishments. Image courtesy of the Staenberg Group | Credit: Nelsen Partners

St. Louis advances affordable housing with Clinton-Peabody redevelopment initiative

The Missouri Housing Development Commission (MHDC) has approved nearly $6.5 million in combined state and federal tax credits and funding to launch the redevelopment of the historic Clinton-Peabody public housing complex in St. Louis. This critical financial support includes $3.5 million in Low-Income Housing Tax Credits (LIHTC), Missouri Affordable Housing Assistance Program tax credits, and $3 million in federal funds. Preservation of Affordable Housing (POAH), a Chicago-based nonprofit developer specializing in affordable housing, is leading the initiative.

Constructed in 1942, Clinton-Peabody has long served as a cornerstone of public housing in St. Louis but now requires extensive upgrades to address structural and safety issues. The redevelopment aims to reimagine the complex as a mixed-income community, combining modern housing with comprehensive resident services. Collaborative planning efforts have included input from the St. Louis Housing Authority, Clinton-Peabody residents, and the Tenant Advisory Board.

The first phase of the redevelopment will deliver 89 newly constructed multi-family apartments, offering one-, two-, and three-bedroom units to households earning up to 60% of the area's median income. Long-term plans envision a transformation of the site, with 350 mixed-income apartments, affordable for-sale homes, redesigned streetscapes, an expanded Al Chappelle Community Center, and a central park. Residents will be supported with temporary housing and guaranteed relocation within the redeveloped community.

The total cost of Phase 1 is estimated at $32 million. The project’s funding package includes $1.47 million in federal 9% LIHTCs, $1.03 million in state 9% LIHTCs, $3 million from the National Housing Trust Fund, and $1 million in state Affordable Housing Assistance Program tax credits. These resources mark a significant step toward addressing St. Louis’s affordable housing needs.

Above: An aerial rendering of the Clinton-Peabody redevelopment site that will eventually offer 350 mixed-income affordable housing units. Image courtesy of LJC

St. Louis-based architectural firm Trivers is leading the design process, which integrates sustainability, universal design, and trauma-informed principles to meet residents’ diverse needs. Roanoke Construction, David Mason & Associates, and other local firms will contribute expertise to the construction and engineering phases. POAH Communities, the management arm of POAH, will oversee property operations while partnering with local organizations to provide financial education, youth programs, and housing stability resources.

Strategically located near downtown St. Louis, the redeveloped Clinton-Peabody community will offer residents proximity to major employers like Ameren and Purina, as well as access to infrastructure projects such as the Brickline Greenway and future MetroLink expansions. This prime location aligns with broader efforts to revitalize the Gateway South and Old Frenchtown neighborhoods.

Community engagement is vital to the project’s success. Organizations such as the Heartland Black Chamber of Commerce and Prosperity Connection are collaborating to support residents through initiatives to promote economic empowerment and housing stability.

POAH brings decades of experience to the redevelopment, with thousands of affordable housing units across the U.S., including over 1,500 units in Missouri. Their proven expertise in transforming urban housing communities in cities like Boston, Chicago, and Miami positions them as a valuable leader for the Clinton-Peabody project, which aims to preserve affordable housing while fostering a vibrant, sustainable neighborhood.

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Header image: A rendering of the Clinton-Peabody redevelopment showcases the start of Phase I, which will bring 89 newly constructed multi-family apartments to the community. Image courtesy of LJC

One Foundry Way brings modern living and historic charm to Midtown

Tenants are now settling into One Foundry Way, a transformative addition to Midtown St. Louis and the first high-rise market-rate apartments in the area in nearly 50 years. The mixed-use development, located at 3835 Foundry Way along Vandeventer Ave., represents Phase 2 of the City Foundry STL redevelopment project.

Lawrence Group led the $96 million initiative, serving as the lead architect and interior designer.

One Foundry Way builds upon the success of City Foundry STL Phase 1, a bustling hub for dining, retail, and entertainment that opened in 2021. The redevelopment revitalized a 15-acre historic foundry, used initially by Century Electric Company for motor and generator manufacturing, into a modern urban destination.

Above: A street-level view of One Foundry Way, a mixed-use redevelopment in Midtown St. Louis. Image credit: Sam Fentress Photography

One Foundry Way's eight-story residential tower rises above a six-level parking structure with 481 spaces. The ground floor features retail spaces designed to blend seamlessly with the dynamic commercial environment of City Foundry STL.

The residential portion includes 270 luxury apartments in studio, two-, and three-bedroom layouts. Interiors emphasize a blend of modern and industrial design, incorporating floor-to-ceiling windows, exposed concrete elements and warm natural materials.

Above: Inside one of the luxury apartments at One Foundry Way. Image credit: Sam Fentress Photography

Residents enjoy premium amenities such as a rooftop pool, zen garden, fitness center, lounges, bike storage, fire pits and a dedicated dog run. The design prioritizes communal and outdoor gathering spaces, fostering social connections and shared experiences. The features complement the vibrant atmosphere of City Foundry STL and contribute to its reputation as a central hub for city life.

ARCO Construction was the project's general contractor, completing the development within a year. New + Found spearheaded the effort, continuing its vision of reinvigorating Midtown St. Louis.

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Header image: The open-air pool deck of One Foundry Way sits atop the enclosed parking garage adjacent to the 8-story luxury apartments in Midtown St. Louis. Image credit: Sam Fentress Photography

St. Louis eyes $232 million revitalization plan with a private sector boost

Following the St. Louis Rams’ relocation to Los Angeles, a $790 million settlement was reached, with $250 million allocated to the City of St. Louis. Recent discussions have focused on utilizing these funds, with $232 million proposed for revitalizing downtown St. Louis and supporting needy neighborhoods. A key element of this plan is a pledge from the private sector to significantly enhance the city’s investment.

Greater St. Louis Inc., a prominent regional business organization, has announced plans to contribute at least $200 million in private funds to complement the city’s proposed investments. This public-private partnership aims to strengthen infrastructure, housing, and economic activity downtown and in neighborhoods on the north and southeast sides. These areas are critical to driving long-term economic growth and addressing pressing community needs.

The proposed allocation of funds would designate $102.5 million for downtown improvements and $130 million for projects in underserved neighborhoods. Greater St. Louis advocates for focusing on downtown as a vital economic hub, citing its role in generating substantial tax revenue that benefits the entire city. By directing resources toward downtown and beyond, the organization aims to spur development and attract additional federal and private funding.

City officials have also emphasized the importance of aligning investments with community priorities. Earlier this year, residents participated in a public voting process to outline their top funding needs, which included water main replacements, traffic calming measures, city worker pay raises, and childcare subsidies. Downtown infrastructure improvements were also considered a priority, though they ranked slightly lower.

Discussions have continued between the city’s leadership and business groups to ensure that plans reflect both immediate economic opportunities and long-term benefits for residents. While different strategies have been proposed, the overarching goal is to maximize the impact of the settlement funds on the city as a whole. Like those proposed by Greater St. Louis Inc., collaborative efforts aim to replicate successful models in cities such as Pittsburgh and Denver, where public-private partnerships have amplified local investments.

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Header image: Construction is underway to connect two major Downtown anchors with 7th Street between Ballpark Village and America’s Center on Washington Ave. Image courtesy of Greater St. Louis Inc.

Kaemmerlen Electric marks 100 years of innovation and growth

Kaemmerlen Electric Co. was founded in 1924. It was born from the growing need for appliance repairs in St. Louis during the early 1900s as electrical infrastructure developed. Initially focused on small appliance repairs, the company serviced 50,000 plug-in clocks, toasters, and radios annually, becoming the most recognized small appliance repair shop in St. Louis. Alongside these services, Kaemmerlen established itself as a major electrical contractor that handled lighting and fan repairs in downtown offices.

The company was founded by Thibault Casper (TC) Kaemmerlen and his foreman, Gil Kramer, who each contributed $150 to start the business at 22 North 2nd St. Kaemmerlen, originally from Guadalajara, Mexico, moved to Missouri to escape political turmoil in his home country. After studying at Ranken Technical College, he worked at Frank Adams Electric Company, where he met Kramer.

Kaemmerlen’s shift from a small repair shop to a more prominent electrical contractor began in 1927 when the company secured its first major contract to wire Gilster Milling in Steeleville, Mo. Despite the challenges of the Great Depression, the company continued to grow, performing warranty work for department stores while expanding into electrical contracting. In 1937, Kaemmerlen bought out Kramer and moved to a larger location on Lafayette Ave.

Post-World War II, Kaemmerlen relocated to its current address at 2728 Locust and benefited from the post-war economic boom. It became a signatory contractor with IBEW Local 1 and co-founded the National Appliance Repair Association. In the 1950s, the company was repairing 25,000 appliances annually, which doubled over the next decade. However, by the 1970s, the company shifted away from appliance repair as consumers began replacing appliances instead of repairing them.

Above: The current Kaemmerlen Electric leadership team from left to right; Bob Kaemmerlen Jr.,Tracey Trembath, principal, and BrianTrembath, chief financial officer. Photo courtesy of Kaemmerlen Electric

Today, Kaemmerlen Electric has diversified its services, focusing on commercial, retail, and institutional projects. Its work spans educational institutions, healthcare facilities, retailers, and businesses like Nike, Mastercard, and World Wide Technologies. With 95% of its work from repeat clients, Kaemmerlen continues to evolve, offering expertise in low-voltage projects, data centers, and audio/visual technology. The company celebrated its 100th anniversary in October 2024.

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Header image: Founder Thibault Casper (TC) Kaemmerlen flanked by two employees circa 1946. Image courtesy of Kaemmerlen Electric Co.

Sealy & Co. renews 1.6M SF lease with World Wide Technology in Edwardsville

Sealy & Co. has secured a lease renewal for two buildings with World Wide Technology (WWT) at Lakeview Commerce Center II and III in Edwardsville, Ill., covering in excess of 1.6 million SF. WWT, the company’s largest tenant, has maintained a long-term relationship with Sealy.

Lakeview Commerce Center II, located at 3971 Lakeview Corporate Dr., comprises 539,877 SF and includes a variety of enhancements. The facility, which was delivered in 2006, features 29,900 SF of office and laboratory space, T5 specialty lighting, and generators for emergency backup.

Lakeview Commerce Center III, a distribution center located next door, encompasses the bulk of the square footage with 1,109,830 SF. Originally completed in 2008, it was expanded in 2015 to add more office space, custom trailer stalls, and enhanced security measures. This building also recently earned the BOMA 360 designation for its high standards in energy efficiency, safety, security, and tenant relations.

Both properties are ideally located in the Metro East industrial submarket of St. Louis, just west of Hwy. 111, with direct access to I-270 and downtown St. Louis only 20 miles down the road.

Negotiations for the renewal were led by Sealy’s Regional Director William Shagets, with support from Cushman & Wakefield’s Ed Lampitt and Matt Eastin.

The St. Louis industrial market continues to see strong leasing activity through the third quarter of 2024 with a vacancy rate of 4.7%, according to a CBRE report (St. Louis Industrial Figures Q3 2024). Leasing activity surpassed 1.2 million SF, up 24% from the previous quarter. While the Metro East submarket had the second-highest vacancy rate in the area just under 10%, it led the region in leasing activity with 414,000 SF for the quarter.

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Header image: Lakeview Commerce Center puchased by Sealy & Co. in 2020 is located just 20 miles from downtown St. Louis in Edwardsville, Ill. Image courtesy of St. Louis Regional Freightway