The new owners of a 100-year-old factory on the edge of the Lafayette Square neighborhood plan to rehab the structure into 50 apartments.
The Bouras Mop Co. building at the corner of 1322 Dolman Street (technically in the Peabody Darst Webbe neighborhood) won rezoning from St. Louis Planning Commission last week to accommodate the $10 million project.
Earlier efforts to redevelop the vacant structure near the corner of Park Avenue and Truman Parkway were unsuccessful. Developers who bought it almost five years ago had , but it never materialized.
The new project doesn’t include any commercial space on the ground floor, according to the city planning report, but planners note that the “unusual configuration†of ground floor windows may make street-level commercial difficult. In any case, staff supported the project because of the potential to add another 50 households to a long-unused building. Also included are 63 parking spaces on a lot behind the building.
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Proposing the latest rehab is an entity called Vinson ONE LLC, which acquired the building in September from Nick and Sophia Karakas.
Documents submitted to the city say Victor Alston is the owner of the property. A response from the email address provided in city documents said the company couldn’t discuss a timeline.
He and others affiliated with the latest project appear to be affiliated with Asprient Properties, which have rehabbed a number of buildings into apartments in recent years.
The City staff report notes recent projects the developer has undertaken in Soulard and DeBaliviere Place. project and .
Alston has identified himself as an owner of Asprient, whose principals have been tight-lipped about future plans in the past. Also listed as part of the mop factory ownership group is Anshul Sathyan, who said he was a project manager at Asprient Properties on his LinkedIn page.
Emails and calls to Asprient principals weren’t returned.