The St. Louis Board of Aldermen unanimously passed two bills, BB 191 and BB 220, to rezone and tax abate the redevelopment of 2000 N Broadway in the Near North Riverfront neighborhood. BB 191 rezoned it from the “K” Unrestricted District to the “H” Area Commercial District.
BB 220 enacts property tax abatement of 95% for 15 years plus 90% for 5 more years on the increase in assessed value due to its renovation. The estimated present value of the abatement is $1.1M. The development even with tax abatement far exceeds the tax productivity targets for the area.
|Tax performance per square foot||Stabilization||Year 5||Year 10|
|200 N Broadway||$1.48||$1.61||$1.77|
|Sustainable Revenue Target||0.29||0.34||0.39|
Blackline Design + Construction plans to redevelop the property into 146 apartments, all of them will be affordable, 31,606 square feet of common space, 11,500 square feet of office/commercial space, and 116 surface parking spaces (less than one per unit!). The unit breakdown is 11 studios, 129 one bedroom, and 6 two bedrooms. Amenities will include a fitness center, community room, on-site leasing and management, storage, gated parking, in-unit washer / dryer, gated dog run, quartz countertops, LED lighting, wood floors, arch, downtown, and/or river views.
They plan to utilize federal and state Historic Tax Credits (HTCs), $6.85M and $4.75M respectively, and federal Low Income Housing Tax Credits (LIHTCs) $14M. The estimated project cost is $34.5M.
The Romanesque revival Standard Stamping Company Factory building was added to the National Register of Historic Places in 2020. The oldest section of the building dates to 1887 with additions up until 1920.
The Standard Stamping Company Factory, located at 2000 N. Broadway in St. Louis (Independent City), Missouri, is locally significant under Criterion A for Industry. The Standard Stamping Company, founded in 1881, was a rising giant in the production of stamped metalware when it built the first part of the nominated factory. The mechanization of metal
stamping allowed for the rise of affordable, light-weight consumer, industrial and commercial
products. Standard Stamping Company produced a wide line of goods that boosted other industries to advance tin can packaging, provided consumers with affordable cookware and hardware and provided factories with containers necessary for production. The factory allowed the company to increase production so that it would soon be the second-largest producer in St. Louis, and eventually the largest producer, as well as a national actor in the founding of the Tin Can Manufacturers Association of America. From the factory, Standard Stamping Company manufactured metalware on contract and direct to market, supplying consumer, industrial and wholesale items. Throughout most of the company’s use of the factory, the local stamped metalware industry was a small market that Standard Stamping Company dominated. The factory retains integrity in all seven aspects and clearly demonstrates its past use and association with the Standard Stamping Company’s achievements in the local metalware industry. The period of significance begins with construction of the factory in 1887 and runs through the closure of the company in 1935.
German immigrant George Wiegand founded the Standard Stamping Company in 1881 after several years operating a tin shop in the city.13 Born in Neuhaus, Havover in 1833, Wiegand immigrated to the United States when he was nineteen years old. At first, Wiegand worked in New Orleans, but ultimately, he chose to settle in St. Louis.14 After a stint working at the United States Arsenal, where he worked in metal shops, Wiegand apprenticed for five years under A.C. Hull before opening his own tin shop in 1857. Wiegand took leave to serve in the pro-Union Home Guards during the Civil War. After the war, Wiegand’s shop trade steadily grew, along with his own capital, and he reorganized it 24 years later into a larger manufacturing company originally called the St. Louis White Enamel Company. Renamed the Standard Stamping Company, the company undertook the manufacture of tinned, galvanized and enamel ware and sheet metal goods.
In 1887, the Standard Stamping Company built its own custom-designed factory on North 2nd Street and by 1892 would add an addition to the factory. Although Standard Stamping Company did not compete with the St. Louis Stamping Company in the realm of patented innovation, its economic stature was not of a lesser register. Prior to building the new factory, the company reported a 100% stock dividend in 1886, for instance.22 The leaders of the company rose in civic stature, too. Company vice president Perry held a seat on the prestigious St. Louis Merchants’ Exchange by 1885From the NPS National Register of Historic Places Application – Michael Allen
The area is a bit isolated since I-70 severs it from Old North St. Louis. Great Rivers Greenway hopes, with considerable philanthropic funding, to add the trestle as a spur of the Mississippi Greenway. The conversion of 2000 N Broadway could be a catalyst for further development in the area.