Work is progressing on the Alverne Building in downtown St. Louis, and reveals a significant change to the historic building’s facade. Prior to renovation, the building had long been stripped of its once robust ornamentation. The remaining small windows date from the building’s construction in 1923 as the Desoto Hotel. The Archdiocese of St. Louis owned the property and managed it as senior housing. The small windows and small apartments were considered a big negative for modern residential conversion, keeping interest from developers low.
An effort at an historic renovation could have proven challenging as well. And so developer Brian Hayden is doing something different. He purchased the building for $550,000 in 2013 and is renovating without the use of historic tax credits or other incentives. This allows the renovation to make significant changes, such as the wall of arched windows.
Planned are 81 two-level apartments, introducing a different product to the still growing downtown residential rental market. Also possible is the renovation of ballroom space as event venues and the return of retail on the ground floor.
Our previous post from June 2014:
The planned rehab of the old Alverne Hotel building (1014-1025 Locust) in the heart of Downtown St. Louis into 81 apartments may be ramping up soon.
A $500,000 interior alterations building permit application is now on file with the City, adding to an existing $100,000 permit issued in January of this year. The owner is Brian Hayden, who has rehabbed 400 Washington into apartments (Gallery 400) as well as the old Millennium Center into apartments and office space (Gallery 515).
Below is a photograph of the Alverne via Built St. Louis: