The two side-by-side mixed use structures on the southeast corner of Grand and Gravois (3546 and 3552 South Grand) may soon see a full rehabilitation into apartments with ground floor commercial. The developer is the Lawrence Group. As of right now, there are two permit applications that have no dollar values listed and must be approved by Zoning first. One this approval is issued, the permits may then be issued themselves.
Below is a Google Streetview capture of both buildings:
The Lawrence Group was the developer of the South Side Tower project across the street from this pair of buildings. That project saw the rehab of the historic South Side National Bank building into commercial space with residential above.
Note that the Missouri Housing Development Commission has approved 4% LIHTC (Low Income Housing Tax Credit) funds for this project in its Fiscal Year 2012 Application Approvals. See the list of approved projects here—this project is called “Southside Station”.