Ebersoldt + Underwood Architects and WDM Architects have formed a joint venture to design the $150 million redevelopment of the Lemp Brewery complex in St. Louis. The 14-acre property presently includes 29 brick buildings built between 1864 and 1919, which would be redeveloped into 400 residential apartments and approximately 75,000 square feet of retail. The developer is Kansas City, Mo.-based Garrison Development. Construction is expected to begin in May and be completed in phases over the next four years.

Source: REBusines Online

St. Louis-based Brinkmann Constructors has completed The Crescent in Clayton, a $73 million, nine-story condominium tower located at 155 Carondelet Plaza in Clayton, according to RE Business Online. The 390,000-square-foot building features 72 luxury condos ranging in price from $900,000 to more than $2 million, and 26,000 square feet of ground-floor retail. Retailers include Araka, Kaldi’s Coffeehouse, Pulaski Bank, Lusso, Extra Virgin – an Olive Ovation, Elements of Denim and Sweet Petunia. The building is being developed by Mark S. Mehlman Realty. Currently, 70 percent of the condos are under contract, and 80 percent of the retail space is leased.

Source: RE Business Online

Novus International has broken ground on a new global headquarters at the 200-acre Missouri Research Park in St. Charles. The $20 million project will include the renovation of Novus’ existing 42,000-square-foot facility and construction of a 48,000-square-foot addition.

The new building will feature 10 research laboratories, an employee and customer-training center, a fitness center, a library, and a coffee bar and lounge. The project will seek platinum-level LEED certification, with energy-efficient electrical and mechanical systems, bamboo wood flooring and doors, skylights and floor-to-ceiling windows for natural light, and zero-irrigation landscaping. Forum Studio is providing design services for the project and Clayco is general contractor.

Source: REBusiness Online

Developer Dmyterko & Wright Partners has broken ground on a $50 million entertainment and retail complex on 18 acres in Hazelwood, Missouri, as reported in GlobeSt.com. The Crescent Pointe at the Mills property at Highway 370 and St. Louis Mills Boulevard is next to St. Louis Mills Mall and a new 130,000-sf Cabela’s. The project includes a Splash Universe Hotel and Water Park with 130 rooms, and 80,000 sf of retail space and is is expected to be complete by fall 2008.

Bob Cissell of Cissell Mueller Co. LLC is leasing the retail space and says the owner hopes to lease to one bank, a convenience store and junior anchors such as ladies clothing, furniture stores and restaurants.

“It’s more geared toward families,” Cissell said. “The water park will be bringing in families from 200 miles away.”

He said the retail portion will be build-to-suit and pad-ready. Retail lease rates for the St. Louis area are at about $11.66 per sf, according to a first quarter Grubb & Ellis market report. St. Louis Mills, a regional mall, has more than 175 stores, and is owned by Simon Property Group.

Dmyterko & Wright Partners is developing an 18-acre, $50 million Crescent Pointe at the Mills in Hazelwood, at Highway 370 and St. Louis Mills Boulevard, adjacent to the St. Louis Mills Mall. The development will include 80,000 square feet of retail space, three to five specialty restaurants, and Splash Universe Hotel & Water Park with a 130-room hotel, conference center, salon and day spa. Cissell Mueller Company, LLC is leasing the retail space. Completion is scheduled for summer or fall 2008.

Source: RE Business Online

REBusinessOnline just published a reader survey on the future of lifestyle centers, also known as mixed-use or multi-use, and the consensus is that the sector is still strong, although 20 percent of those surveyed believe there is a danger of overbuilding. Three-fourths said there is demand for more lifestyle centers in their region, but many commented that developers should proceed with caution to get the right site, a solid anchor and the right mix of tenants.