ST. LOUIS — Clayton-based developer Green Street is set to start construction on its new $40 million workforce housing development in The Grove on Feb. 1.
The project, called Union At The Grove, is comprised of six multifamily buildings on Hunt, Vista and Norfolk avenues, between Newstead and Taylor avenues, just east of Kingshighway. Construction is estimated to take 12-18 months and follows delayed caused by the pandemic. Originally, construction was slated to begin last August.
At least 80 of the 160 units planned for the entire development will have "attainable rents," Green Street said, meaning rent is below the market average but above the threshold for low-incoming housing units. It's also known as workforce housing.
The Central West End/Forest Park area, which includes The Grove, had an average monthly rent of $1,353. The metro area's overall average is $999 a month, according to the latest available research from Berkadia.
Union At The Grove is a key project for the newly formed economic development organization Greater St. Louis Inc., the consolidation of five local private-sector business groups. Its CentralCitySTL affiliate is focused on "revitalizing the urban core," according to its website, and was involved in the providing an undisclosed capital investment to the project through The Arch to Park Equity Fund, officials said.
“As we focus on inclusive economic growth for our region, the project sends a strong signal about what is being done to begin a resurgence in the central city in St. Louis,” said Valerie Patton, chief diversity, equity and inclusion officer of Greater St. Louis Inc.
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