MARYLAND HEIGHTS — Nearly 800 apartments could be built northwest of Creve Coeur Memorial Lake Park, one of the largest multifamily developments proposed recently in St. Louis County.
KBG Inc. is pitching 775 apartments on 80 acres in Maryland Heights at Creve Coeur Mill Road and Golfport Drive, an area officials have long eyed for development and one of the last major plots of land that remain undeveloped in St. Louis County.
The property, which KBG began amassing in 2017, is in the Howard Bend area of the Missouri River flood plain that levee district and city officials said will be bolstered by a new stormwater pump station. KBG owner Doug Jones said the pump station is key for his multifamily project.
“That makes the whole thing work,†Jones said.
A local developer has plans to build nearly 800 apartments northwest of Creve Coeur Lake Memorial Park in Maryland Heights.Â
Apartment occupancy and rent in the St. Louis area are trending up compared to 2020. Occupancy grew a full percentage point to 96% and the region’s average rent increased 9% to $1,089 in the third quarter of this year, according to research from commercial real estate Berkadia.
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Most new apartment construction has occurred in the city of St. Louis, with nearly 3,000 new units either leasing, under construction or proposed, Berkadia data shows.
Screaming Eagle Development, for instance, is leasing its 51-unit Front Page Lofts in Downtown St. Louis, as well as its 70-unit Lofts at HUPP project in Downtown West.
Nearby, at the southeastern end of Creve Coeur Lake, Pier Property Group is wrapping up its 218-unit Flats at Dorsett Ridge development.
Jones said a study showed young professionals and young families would be most interested in KBG’s development. The majority of his market-rate apartments will be one- and two-bedrooms, with some three-bedroom units. Also planned are apartment amenities like a pool, co-working spaces and conference rooms. Jones plans to build 276 apartments to start, with the rest — as well as some retail such as a convenience store — to come in later phases. The entire project could take a decade to build if approved, he said. Jones does not know if he’ll seek incentives.
Other developers also have targeted this area of Maryland Heights. Creve Coeur-based TriStar Properties is building a 1.3 million-square-foot industrial park called Westport Commerce Center, south of KBG’s project. And the Centene Community Ice Center opened in 2019 on the other side of the Maryland Heights Expressway.
The city’s planning commission will review the KBG project at 7 p.m. Tuesday at the Maryland Heights Government Center.
