Mills Properties Plans to Build $60M Apartment Community Featuring a 30,000-Sq.-Ft. Whole Foods Grocery
By Gabriel Circiog, Associate Editor
Located at 100 North Euclid, the seven-story building will also be the home of a Whole Foods grocery, the St. Louis Post-Dispatch reports. Bruce Mills, Mills Properties’ Chief Executive, said he has a letter of intent from Whole Foods Market to occupy the entire first floor of the future construction, a total of 30,000 square feet. The intent of Whole Foods to open a grocery store in Central West End is seen as a sign that the neighborhood has reached a certain desirability level. The store would become the grocery chain’s third in the St. Louis area after the ones in Town and Country and Brentwood.
The 100 North Euclid building will feature 176 market-rate apartments, including 12 penthouses, on six floors above the Whole Foods grocery and over 450 garage spaces, out of which 125 will be dedicated to retail. Part of the plan also includes improving the streetscape of the 4-way stop at Euclid and West Pine.
Mills Properties acquired the 1.6 acre site at Euclid and West Pine avenues in 2004. The company later demolished the 11-story Doctor’s Building to make way for a condo tower, but due to the housing market crash the site remained vacant until now.
Mills Properties will make a request for $10 million to the Tax Increment Financing Commission on Oct. 30th. Bruce Mills said the $60 million City Walk apartments could eventually be converted to condos due to the fact that condo mortgages are becoming more available than last year.
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Plan Courtesy of: www.millsapartments.netTags: Development, economy, leasing, mixed-use, Policy, property management, retail