The Midtown entertainment destination The Armory STL will be out of operation for the next 30 days while the firm behind the venue, Green Street, seeks additional funding to complete work on site.
A statement released by Green Street this morning says that the first phase of The Armory was completed in December 2022, but subsequent phases were never finished due to a lack of funding. In the next 30 days, Green Street hopes to acquire that capital and complete outstanding elements in The Armory, such as a rooftop beer garden and entertainment venues on its lower level.
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“It’s pretty simple… The landlord was supposed to fund the buildout of the whole thing. When only a fraction was funded, we were left with an incomplete project and were drowning in debt. We are working to restructure the whole thing,” said Jacob Miller, who Green Street says invented The Armory concept.
The temporary closure likely has its roots in the boondoggle of coworking behemoth WeWork, whose travails were documented in the Apple TV+ miniseries WeCrashed and elsewhere. Following the failure of their initial public offering in 2019, WeWork pulled out of a planned tenancy in The Armory, leaving Green Street with the 250,000-square-foot former National Guard training ground and munitions storage facility and no office tenants. Thus, “the biggest bar in STL” was born.
For nearly two years, The Armory has been a venue for drinking and eating, as well as live events to watch and games to play while you imbibe. Green Street reports that The Armory has been successful, with 1.5 million visitors stopping by in less than two years.
Meanwhile, the situation at Green Street has been more mixed.
The developer has faced myriad legal issues in the past year. The contractors who installed The Armory’s HVAC system took Green Street to court in August, trying to get the $395,772 they say they are owed for the work (they are themselves being sued by a subcontractor for $363,598).
That suit came on the heels of several other contractors going to court this year to get money they say they are owed for work done at The Armory. A flooring company and a lighting installer filed suit in June seeking $70,000 and $161,505, respectively. The following month, a sound and lighting company filed suit seeking almost $25,000.
The St. Louis Business Journal reported in October that $1.1 million in liens had been filed against Green Street developments in matters that do not include The Armory. The company was also sued in March by a former employee who accused its leaders of misleading investors.
Green Street does have one less dispute to handle.
Bar K, the popular doggie playground in Forest Park Southeast, has settled its dispute with landlord Green Street. The two entities said in a joint statement yesterday that they “are pleased to announce that they have resolved all issues relating to the lease for the Bar K facility at 4565 McRee Avenue.”
Green Street had sought $300,000 in back rent and an eviction.
The release noted that Green Street plans to open The Rail, a 268-unit dog-friendly multifamily development next door to Bar K this November. That’s also next door to its own headquarters, and Green Street promises more residential and commercial development in the neighborhood.
In the statement, Green Street founder and CEO Phil Hulse said, “We are deeply committed to continuing to build this new community. We look forward to continuing to work closely with Bar K and our other tenants to create this vibrant new Southeast Forest Park neighborhood.”
