St. Louis University has selected Cullinan Properties as the developer for a 14-acre mixed-use space at the intersection of Grand Boulevard and Chouteau Avenue. The development will comprise residential space, retail, dining and entertainment outlets, office space, and a hotel. SLU president Dr. Fred Pestello told SLM the project would realize a long-term goal of linking SLU’s north and south campuses and revitalizing a currently derelict swath of midtown.
The project, currently named simply “Grand & Chouteau” on Cullinan Properties’ website, joins a number of other major developments transforming the 150-acre Prospect Yards district. Other Prospect Yards developments include City Foundry STL, The Armory District, Steelcote Lofts, and Element by Westin.
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As well as providing a walkable link between the SLU campuses, Grand and Chouteau will eventually be part of the Chouteau Greenway. The Greenway will create pedestrian-friendly paths seamlessly connecting the Arch to Forest Park and running from Fairground Park in north city to Tower Grove Park in south city.
SLU and SSM Health are joint owners of the St. Louis Midtown Redevelopment Corporation, the organization that supervises the development of 400 acres of real estate in midtown St. Louis, including the Prospect Yards district. On the southern side of Chouteau at Grand, SLU and SSM Health are also partners in a new $550 million hospital and ambulatory care center. Pestello said the facility, which is currently under construction, is the first Level I trauma center to be built in an American inner city in 25 years.
The Grand & Chouteau project is currently in the due diligence phase. According to Anaise Berry, director of marketing and communications for Cullinan Properties, Cullinan hopes to close on the property in August. If everything proceeds smoothly, they would aim to break ground at Grand & Chouteau in 2020. The first openings could come as early as late 2021, Berry said. Cullinan is already in talks with potential tenants, but Berry said no details will be made public until after due diligence is completed and a lease signed.
Cullinan Properties, based in Peoria, Illinois, has built up an extensive portfolio of mixed-use projects over many years, including Streets of St. Charles in the St. Louis metro area. Berry said that with traditional brick-and-mortar retail properties struggling in recent years, mixed-use developments are becoming more common.
“It’s not drawing people simply to shop and spend their money in stores,” Berry said. “You can offer them dining options, they can work and live in these spaces, they can work out, and really take advantage of a lot more than simply shopping with disposable income.”
Pestello said that Grand and Chouteau would benefit local development by boosting tax revenues, increasing local property values and adding to urban density, which he predicts will help to reduce crime in the area. He also said the development would serve members of the community with lesser means, providing accessible grocery options and entertainment opportunities.
“It’s not meant to be a project only for students and workers right there in SLU,” Berry said. “This project will be diverse enough and because of its mixed-use nature, it will be a destination. We think it will attract folks from downtown and the outlying areas around St. Louis.”
Pestello said that the university has been working closely with St. Louis NAACP president Adolphus Pruitt and local representatives, including 19th ward alderwoman Marlene Davis, to ensure that residents in neighboring communities like Gate District West and The Tiffany are part of the conversation as plans move forward. SLU is also donating land for five new homes to Habitat for Humanity, and Pestello said additional homes could be added further down the line.
“Those types of initiatives are important for us, and quite frankly, they’re aligned to our mission as a Jesuit Catholic university,” said David Heimburger, vice president and chief financial officer at SLU.
“We’re going to work hard to ensure it complements the projects that are going on in the midtown area,” Berry said. “Hopefully we can alleviate any concerns people might have, but honestly the feedback we’ve gotten has been really positive. People are very supportive and excited about the project. As a developer, that’s great to hear.”
“These were areas that were abandoned, areas that were deteriorating, sites of criminal activity,” Pestello said of the Prospect Yards developments. “And they’re all turning into areas that will give all members of our community as well as in the greater St. Louis region a chance for entertainment, recreation, and places to work.”
