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UPDATED – Carondelet Coke Plant

Some interesting news in South St. Louis this morning. It seems that the former coke facility in Carondelet, officially known as the Carondelet Coke Plant, is going to become a business park. More details will be unveiled later today, but the site is the largest parcel city-owned property at 42 acres, and is currently highly polluted.

New details, following the official announcement, seem to indicate that the project could actually pick up 12 additional acres, to  make it 54 acres in all. Cleanup should begin very soon and the project will play directly off the new roads being built for the new casino in Lemay.

There will be plenty of issues to manage for this project, but if this property can be turned from one of the city’s worst to an actual benefit, this could be huge for Carondelet and the City. Currently, even businesses that want to stay in the City are forced to move out to the County due  lack of developable commercial land. This project could go a long way towards mitigating that issue.

If you are interested in details about the site, the is a great writeup at Ecology of Absence.

Link

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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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