The Grim Reaper has been spotted lurking at 1500 S Grand. Recent storms have been unkind to the building. Fencing is up to keep people safe from falling debris. It is within Saint Louis University’s chapter 353 redevelopment domain, so SLU decides whether stays or goes, not city government. SSM Cardinal Glennon Children’s Hospital owns the building. The property is assessed at $1.2M per acre. If razed, it would likely became tax-exempt parking.
If the tax-exempt parking comes to pass, it will be an example of how we sow insolvency. The current property tax bill is $24,000. That is $24k less for SLPS, the city, ZMD, MSD, etc. We’ll have to make it up with higher taxes or a lower level of services and infrastructure.
Here’s hoping the forces of good prevail and this handsome building is rehabilitated.