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Union Club finished in Lafayette Square

If you often drive I-44 in St. Louis City, you probably noticed the large infill project that was built at the southeast corner of Lafayette and Jefferson in the Lafayette Square neighborhood. Designed by the Lawrence Group for developer Gilded Age, this project was been named and modeled after the former Union Club, which stood at the site until a tornado destroyed it in 1896. Although the mixed-use project was completed in early 2009, the commercial competent on the first floor has been idle for the past two years. Fortunately, that is changing.

The plywood coverings on the commercial bays have now been removed, revealing the glass storefronts. Even without any commercial tenants at the moment, this change makes the building look much better: More polished. Hopefully there will be news on retail, restaurants or office tenants coming to the building soon.

As for the residential component of the project, although the thirty-nine 2 bed, 2 bath residential units were planned as for-sale condos, a changing real estate market made the developer turn to leasing them as apartments instead. These units range from 1,108 to 1,336 sq ft and were originally set to be sold at prices ranging from $210,000 to $291,000. As apartments, the lease rates range from $1,025 to $1,336 and if the history on the MLS is any indication, the building is fairly full.

Developer Gilded Age, has done other projects in the area, including the City Hospital/Georgian, the Mississippi Place townhouses, and the Eden Lofts. They are also involved with the proposed Bohemian Hill shopping center, which got so much attention a few years back. The are clearly heavily invested in the Lafayette Square neighborhood. Hopefully they will continue to support the area into the future.

For a closer look at the project, check out Gilded Age’s Union Club website or check out the image gallery below to see current and former pictures of the Union Club’s exterior.

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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One thought on “Union Club finished in Lafayette Square”

  • Brian S.

    February 7, 2011 at 3:52 pm

    I’m pretty happy with the way this project turned out. It’s certainly better than the Aldi that used to be there.

    It’s too bad the mixed-use project directly to the north of it (NE corner of Lafayette and Jefferson) never came to fruition. It would have been great to have some added density there instead of an abandoned car wash.

    Reply

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