Former Sheppard School Building to Be Rehabbed Into 57 Apartments

St. Louis, MO- A plan for the redevelopment of the former Sheppard School was approved by the Land Clearance and Redevelopment Authority on Tuesday, March 28, 2018. The building located at 3450 Wisconsin Ave. is to be transformed into 57 apartments.

Greenstone Investments LLC is acquiring the property, renovating the building and constructing the new apartments units covering 44,239 sq. ft. of space at the total projected cost of 4,866,488. This will include a tax abatement based on 100% for years 1-5 and 75% for years 6-10 of the assessed value of the incremental improvements.

Otis Williams, Executive Director of the Land Clearance for Redevelopment Authority (LCRA) of the City of St. Louis was authorized and directed to negotiate and execute the Redevelopment Agreement.

About the St. Louis Development Corporation (SLDC)

St. Louis Development Corporation (SLDC) is an umbrella, not-for-profit corporation organized under Chapter 355 of the Missouri State Statutes with the mission of fostering economic development and growth in the City of St. Louis by stimulating the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City.  The mission of the SLDC is to stimulate the market for private investment in City real estate and business development and improve the quality of life for everyone who lives in, works in, and visits the City of St. Louis. If there are questions, please contact John Parker, Director of Corporate Communications and Media at 314-363-1102 or email him at parkerj@stlouis-mo.gov

 

# # #