Clayton continued to progress toward their master plan Friday with the announcement of a multi-purpose facility to be built where a city-owned parking lot currently sits.

According to a press release from the City of Clayton, the top-of-the-market luxury building will be located on the 8000 block of Forsyth. The city will be selling the lot to Flaherty & Collins Properties who will build the new structure.

“Right now, we have a parking lot that does not contribute anything to our school district or city services, nor has for decades,” Clayton City Manager Craig Owens said in the press release. “This project contributes $1.1 million to fund other city needs, replaces or expands retail and restaurant parking, brings in a luxury residential tower and retail, and adds dramatically to the city and school tax base.” 

The lot has 29 metered parking spaces and another 100 leased spaces. 

The proposed project will include an approximately 25-story building with 250 luxury apartments with penthouse suites and 10,000 square feet of street-level retail. The building will also feature a rooftop pool, outdoor courtyard and fitness and yoga studios.

Flaherty & Collins Properties has luxury developments in Minneapolis, Kansas City and Chicago.