Green Street Real Estate Ventures held dual ground-breaking ceremonies June 17 for the construction of Terra At the Grove and Union at the Grove near 4500 Swan Ave. in St. Louis.
The combined projects include a mix of market-rate and workforce multifamily housing within the Forest Park Southeast neighborhood of St. Louis.
The more than 60 attendees heard comments from Green Street founder and chief executive officer Phil Hulse, Green Street Building Group president Paul Giacoletto and Green Street director of development and senior vice president Joel Oliver. Also speaking were Greater St. Louis Inc. chief executive officer Jason Hall, Washington University Medical Center Redevelopment Commission assistant vice chancellor and executive director Brian Phillips and Park Central Development executive director Abdul Abdullah.
“Through real collaboration and regional partnerships, we are able to offer a multitude of diverse housing options within The Grove neighborhood,” said Hulse. “It is our goal to support and strengthen the communities in which we develop. Terra and Union are incredible examples of what is made possible by working together for the betterment of St. Louis.”
Terra At The Grove will include 307 residential units and street-level retail space and associated parking. Amenities include a large courtyard, pool, walking and running paths, business center, club and movie rooms. The four-story structure is the first project in St. Louis to pursue a FitWell Certification.
The $72 million project was designed by Rosemann & Associates with interiors by Arcturis and is being developed by Green Street and built by Green Street Building Group with a mid-2022 scheduled completion. Debt and equity were arranged through George Smith Partners with debt provided by CIT and preferred equity through Saperean Capital.
Union At The Grove, made up of six infill buildings on Hunt, Vista and Norfolk avenues between Newstead and Taylor avenues, was designed by JEMA and is also being developed by Green Street and constructed by Green Street Building Group. It is being supported by a consortium that includes Greater St. Louis Inc., IFF and Washington University Medical Center Redevelopment Group. Debt was provided through Colliers International.
The $40 million project is scheduled for completion in the spring of 2022.
About 52 percent of Union’s units will have attainable rents blended throughout each of its six buildings to support local workforce housing. Amenities include private entrances; courtyards and walking paths; shared rooftop terraces, balconies and barbecue areas; and bike storage, mail and secure package areas.