4565 McRee*

St. Louis, MO

The Forest Park Southeast (FPSE) neighborhood in St. Louis has been historically disinvested and for decades proved difficult to revitalize. At the same time, FPSE has a great location - it is between two major highways, has a major east-west commercial corridor running through the middle (part of the old Route 66), and is just south of the major medical district.

Local St. Louis developer, Green Street STL, along with a primary tenant, created a plan to rehabilitate a former industrial building located in southern FPSE into a mixed-use commercial building, bringing jobs and services into a part of the community that had seen less investment.

The project has already stabilized the southern portion of FPSE by creating a destination for residents across the city. It has become a gathering space and unconventional meeting venue and with familiarity, other developers are catalyzing its impact with other investments.

The project created 150 construction jobs (of which 25% were allocated to low-income people) and 205 new permanent jobs for the community (of which 39% will go to low-income people). The office tenants offer competitive benefits, including coverage of employee healthcare premiums, a 401(k) match, and paid time off. Entry-level wages at the project support a single adult living in the City of St. Louis.

This institution is an equal opportunity provider.

Quick Facts 

Square Footage:  73,000 (29,000 sf pet-oriented entertainment, retail and services, 40,000 sf office space)

Total Investment: $16,925,000

Sponsor: Green Street STL

Allocatees: MBS Urban Initiatives, SLDC CDE

NMTC Equity Investor: US Bank

Architect: Arcturis and HDA

General Contractor: Green Street Construction.

Construction Jobs: 150 (25% accessible)

Projected Permanent Jobs:  105 retained; 205 new (39% accessible)