A developer affiliated with , which appears to be a new brand for local landlord and developer Asprient Properties, is proposing another large apartment complex in the DeBaliviere Place neighborhood north of Forest Park.
The $31 million, 149-unit apartment building and parking garage would replace tennis courts and a pool at 5539-5551 Pershing Avenue. A report from a city agency says STL City Wide and Rainier One LLC plan 38 studios, 79 one-bedroom units, 25 two-bedroom units and seven three-bedroom units in the six-story complex.
Staff for the St. Louis Land Clearance for Redevelopment Authority are recommending the city grant 10 years of 85 percent tax abatement for the project.
The developers are familiar with the DeBaliviere area. They operate several complexes around Pershing Avenue, including Park Lux and Fountain Row. Across the street from the new project, a company affiliated with an Asprient principal recently completed the at 5510 Pershing Avenue.
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The company also was part of the redevelopment of the Soulard IceHouse and is involved in the apartment building going up at the former Victor Iron Works site along South Broadway.
A developer associated with CityWide Apartments, which operates the holdings of the former Asprient Properties, is proposing a $31 million, 149-unit apartment complex in the DeBaliviere Place neighborhood.
Jacob Barker
Reporter
