Green Street Real Estate Ventures (Green Street) and its affiliate companies celebrated as one last week with a day full of employee engagement and onboarding, as they marked the official move into its new headquarters located at 4565 McRee Avenue in The Grove neighborhood of St. Louis, Mo.
The move combines six companies under one roof to include Green Street, Green Street Building Group (“GSBG”), Green Street Property Management, Emerald Capital Strategic Advisors (“Emerald Capital”), HDA and O’Toole Design Associates (“O’Toole”).
“We are excited about the synergy that is being created with having our 80-person team in one location,” said Kevin Morrell, Green Street principal. “This building is a showcase of each company’s individual talents and evidence of the outstanding development that we can deliver as a vertically integrated firm.”
GSBG broke ground on the 46,000-SF building, designed by HDA with interior design by O’Toole, in January 2021.
Despite a tumultuous year in the construction industry, the team rallied to deliver a building that makes each employee excited about coming to work.
“From development and financing through design and construction, the entire Green Street team collectively created a real showplace to display our talents,” said Paul Giacoletto, GSBG president. “It’s a real-life example of our tagline “Make more possible.”
Green Street’s new headquarters is part of a $21 million mixed-use development that includes Bar K’s first St. Louis location.
Emerald Capital played a key role in securing financing for the project which included $18 million in New Market Tax Credits (“NMTC”), Opportunity Zone Equity and a $347,000 Project Clear Grant.
Collective project financing is provided by Peoples National Bank, United Bank of Union, U.S. Bancorp Community Development Corporation and the Community Development Entities of St. Louis Development Corporation, MBS Urban Initiatives CDE (an affiliate of McCormack Baron Salazar) and RBC Community Development.
“This development is activating a former industrial warehouse to provide 200+ jobs, many that are accessible, and has already promoted further development on McRee with residential and additional retail plans in place. We couldn’t be more excited to work on this project as it is a perfect example of a catalytic development in a distressed area,” said Matt Drinen, Emerald Capital principal.
The project is a testament to Green Street founder and CEO Phil Hulse’s long-term commitment to the city of St. Louis, as well as to The Grove and Forest Park Southeast neighborhoods.
“We don’t just build buildings, but rather strengthen communities,” said Hulse. “We are creating environments where people can come to live, work, eat and play within these desired urban environments.”
To date, the project brings approximately 200 new jobs to the city of St. Louis.
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Green Street will showcase its new venue next month as the host of MWM’s first St. Louis event, the STL Market Forecast Summit, on February 10, 2022 from 4pm-6pm. An invite will be sent out to all MWM STL Newsletter subscribers soon with additional info, including how to register for the event.