ST. LOUIS — A prolific St. Louis developer is eyeing an overhaul of three city blocks in north St. Louis with a $28 million plan designed to capitalize on Interstate 70.
Green Street Real Estate Ventures has been working on plans for several properties in the same North Riverfront neighborhood but was designated by a city board Tuesday as the official developer of a 15-acre property at 5900 N. Broadway.
Green Street said it has been working on the project since 2007, and has assembled several of the parcels that now make up the 15-acre site in the past several years, its founder and CEO, Phil Hulse, said at the city meeting.
Plans for the site call for a new 70,000-square-foot commercial building for dealership Broadway Ford Truck Center, which would front the interstate, expanding its existing site nearby. Green Street would also build 220,000 square feet of industrial space and another 150,000 square feet in speculative development. The industrial space would be divided into three spaces ranging from 70,000 square feet to 75,000 square feet, according to city documents.
Creating access to southbound North Broadway was key to attracting Broadway Ford, Hulse said. The dealership, owned by Dennis Phillips and Ken Linton and with a supply center in the Kosciusko neighborhood, reported 811 vehicle sales last year.
The dealership and other tenants want easy interstate access for distribution, logistics and manufacturing uses, Hulse said.
The result will be a travel center with food that capitalizes on the Stan Musial Veterans Memorial Bridge, which opened in 2014 and now routes more cars into the North Broadway area, Hulse said.
Read the full story on the St. Louis Business Journal website.