Green Street‘s plans have come to light to rehab the old Famous-Barr warehouse next to The Armory at 3728 Market in the Midtown neighborhood. We got an indication that something was cooking when they sought a nomination to the National Register of Historic Places before the Preservation Board last September. The listing paves the way for acquiring Historic Tax Credits to help fund the rehab.
According to the meeting materials of the June 14th meeting of the St. Louis Planning Commission, Green Street plans to turn the complex into 177 residential units, 170,000 square feet of office space, 150,000 square feet of retail/entertainment space, and 650 structured parking spaces. More parking is thneeded given the success of Armory STL, the plan to build new apartment buildings on the surface lot to the east of the Armory, and the willful disregard for the transit service nearby.
The site is currently zoned K. Unrestricted. They are petitioning the Planning Commission to change the zoning to H. Area Commercial. There were no financial details in the meeting materials. I’d wager the project cost will be over $100M.
The area is hot with City Foundry, Armory STL, the Element Hotel, and the Steelcote developments, including the Edwin with the Target under construction as well as City Foundry Phase II and The Marshall.
The Famous-Barr Warehouse was built in 1925 to serve the downtown store at the Railway Exchange Building. Additions came in 1946 and 1962. Books from the Central Library were stored there during the library’s renovation. Currently MERS Goodwill Outlet occupies part of the site. Draft Famous-Barr Warehouse nomination