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4227 Race Course – Rehab and restaurant in the Grove

The vacant mixed-use property at 4227 Race Course seems to be close to a getting a green-light on being rehabbed. The property is located at the NE corner of  Tower Grove Ave and Race Course, which is just north of Vandeventer, in the Grove (Forest Park Southeast) Neighborhood of St. Louis. The property was recently sold and the new owners are seeking a liquor license for a new restaurant, which would be called Forever Yours Bar & Grill.

Other than cleaning up the overgrown trees on the property, not much has yet been done to the place. But, assuming that the project gets a thumbs up, it will be nice to see this prominent property get the rehab treatment. It sits on the southern border of the neighborhood and would serve as a far better welcome than the current rows of boarded up properties on that end of the neighborhood. A majority of the reinvestment seen in the area in the last few years has been north of Manchester so this one would stand out a bit. Hopefully its the start of a new trend.

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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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