A proposal for the long-vacant lumber yard would bring 100 market-rate apartments and 15,000 sf of retail space to the center of the city’s Dogtown neighborhood. The $20M proposal by Pearl Companies of Indianapolis appears similar to its Trail Side project along the Cultural Trail in that city.
The Pearl project attempts to address parking concerns with 123 underground spaces to serve the 89 1BD and 11 2BD units. Proposed commercial is shown as an 11K sf and 4,500sf spaces fronting Clayton Avenue. At five stories, the project will require a variance to proceed. A half-block on either side of the site (Google Maps) sits a four-story mixed-use infill project and a five-story parking garage now owned by the St. Louis Zoo.
In St. Louis, this means the developer will seek the endorsement of the neighborhood association and alderman. Although a 2013 proposal for 63 apartments on the site was approved by the neighborhood, conditions placed on the project regarding parking and building materials led the developer to choose not to proceed.
The new proposal will be presented to the Clayton-Tamm Community Association January 26. Pearl Companies has the site under contract and will be seeking support for tax abatement as well.
{Trail Side in Indianapolis by Pearl Companies – 69 apartments over parking, with 20K sf of retail space fronting the Indianapolis Cultural Trail}
The 2013 proposal for 6300 Clayton Avenue:
