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ST. LOUIS, MO, (SLFP.com), February 3, 2017 - Clayton's Downtown Master Plan vision is closer to reality thanks to a parking lot and a proactive redevelopment effort by the City of Clayton. Clayton officials have announced they negotiated a $1.1 million deal with Indianapolis-based developer Flaherty & Collins Properties to sell the city-owned parking lot at 8049 Forsyth to make way for a proposed top-of-the-market luxury building at the corners of Brentwood Boulevard and Forsyth Avenue.
"Right now, we have a parking lot that does not contribute anything to our school district or city services, nor has for decades," stated Clayton City Manager Craig Owens. "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." According to study recently commissioned by the Clayton School District, "...new construction - in particular multi-family housing - does not contribute at all to future enrollment."
The location was one of the top areas for redevelopment identified by Clayton residents during the 2010 Downtown Master Plan process. The current surface parking lot has 29 metered spaces, 100 leased spaces, and is owned and operated by the City of Clayton.
In 2015, Clayton issued a Request for Proposals to redevelop the surface parking lot to move forward with the Master Plan vision. The surface parking lot currently does not provide any revenue for Clayton schools and other taxing district despite its prime location across from Shaw Park. As part of the sale agreement, the project's parking garage will provide at least 29 public spaces to serve nearby restaurants and coffee shops.
The proposed project will include an approximately 25-story building with 250 luxury apartment homes with penthouse suites and 10,000 square feet of street-level retail. Amenities include a rooftop saltwater pool, Sky Bar, outdoor courtyard with grilling stations, balcony views, yoga studios, fitness center, bike repair and storage, pet wash, and other attractive full-service options for active park-side living in downtown Clayton. The project will receive no tax incentives and is full taxable. A preliminary traffic study conducted by a third party engineer suggests that the project will not any significant impact to roadway infrastructure or drive times.
"People all across the country want this kind of top-of-the-line luxury apartment living, and downtown Clayton was the perfect market," said lead project developer Deron Kintner of Flaherty & Collins Properties. "We are excited to partner with the City of Clayton and our neighbors, and we want it to be among the best places to live in the region, not just Clayton."
Flaherty & Collins Properties have similar projects in Indianapolis, Cincinnati and Tulsa, in addition to luxury mixed-use developments in Minneapolis/St. Paul, Kansas City and Chicago regions.
The Clayton Plan Commission/Architectural Review Board will review the project's Conceptual Plan at its February 21, 2017 meeting at Clayton City Hall.
Upscale condominiums and tall, contemporary office buildings frame the central business district of Clayton. This area, located between Maryland Avenue on the north, Shaw Park to the west and Forest Park Blvd along the south, is headquarters to many Fortune 500 companies.
Visitors and residents can browse through a fine selection of art galleries, bookstores and specialty boutiques. Several wine shops, jewelers, florists and music stores and numerous antique shops can be found. For business travelers and vacationers, Clayton offers outstanding accommodations and is only 15 minutes from Lambert-St. Louis International Airport, and just 10 minutes from downtown St. Louis.
Dining in Clayton is a gourmet delight with over 65 restaurants. Spend a leisurely afternoon at one of many outdoor cafes or enjoy elegant dining by candlelight at a fine restaurant. Each year, the downtown Clayton area hosts special events including the 'Taste of Clayton' food festival, 'Parties in the Park', the 'Saint Louis Art Fair' and 'Gallery Nights in Clayton.'
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