TCARE, a startup company that utilizes technology to assist employers and insurance health plans in reducing family caregiver burnout, announced today that it is moving into a new facility on Vandeventer Avenue in the city's Botanical Heights neighborhood. The move will allow the company to expand its workforce and grow its business over the next year.
The facility, which will undergo immediate construction, will be leased from Arch to Park Equity Fund LLC, a real estate investment firm coordinated with Greater St. Louis, Inc.
"From Arch Grants bringing us here to the support we've received from other companies in this industry to help us grow, and the work Arch to Park Equity Fund did to get us into our new space, our story is a perfect example of how St. Louis comes together to help companies start up, stand out and stay," said TCARE CEO Ali Ahmadi.
Located next to Rockwell Brewing Co. and south of The Grove entertainment district, the building was purchased by Arch to Park Equity Fund LLC in 2019 as part of its efforts to bring "density, vibrancy, connectivity and activation" to the urban core of the St. Louis metro area. The building is the first purchase by the fund, which has since invested in several other projects aimed at catalyzing development in the urban core, a key priority of the STL 2030 Jobs Plan.
Additionally, the Tower Grove Connector, a 1.4-mile protected multimodal path, will run directly in front of the new building and provide new infrastructure to further connect city neighborhoods.
"We are committed to restoring the urban core of St. Louis and TCARE will help anchor this neighborhood for years to come," said Dustin Allison, Chief Real Estate Investment Officer of Greater St. Louis, Inc. "TCARE's new home is perfectly located to help spur additional development that will connect the thriving communities nearby."
Project partners on TCARE’s new facility include Cannon Design, DCM Group and GS&S Construction. Construction is scheduled to be complete by late summer 2023.
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FEATURE IMAGE: The Tower Grove Connector, a 1.4-mile dedicated bike lane, will run directly in front of TCARE's new facility on Vandeventer Ave. in St. Louis' Botanical Heights neighborhood, providing new infrastructure to further connect city neighborhoods. Image credit: Tower Grove Connector/ www.towergroveconnector.com.