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Pevely Dairy Complex bought by SLU

Pevely Dairy Complex bought by SLU

It’s been an eventful few years for the historic Pevely Dairy Complex at 1001 South Grand Blvdon the southwest corner of Chouteau and South Grand. Following the abrupt closure of the site in October 2008, Bruce Development unveiled plans to convert the site to a mixed-use development. All seemed to be going smoothly until a fire wiped out one of the buildings in March 2009. Talk of Bruce Development’s purchase vanished at that point. However, in November 2009, a major hurdle to development was overcome when the site was officially added to the National Registers of Historic Places. All had been quite on the news front for the better part of a year until developer Rick Yackey unveiled plans to on create 165 market-rate apartments and commercial space on the redeveloped site in late 2010.

While groundbreaking, originally set for Spring 2011, never occurred, it seemed as though Yackey’s plan would eventually become a reality. Then the new hit that St. Louis University has purchased the complex. And just like that, the situation is dire again. Considering SLU’s history of leveling historic buildings, and St. Louis City’s willingness to let them do so, it is possible the site could be destined for the wrecking ball. But thankfully, the fact that the complex is no on the National Register of Historic Places, that might be easier said than done. Hopefully the site is reused instead.

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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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2 thoughts on “Pevely Dairy Complex bought by SLU”

  • dylan

    August 28, 2011 at 9:33 pm

    This site would make an amazing renovation, and a signature piece for the SLU Campus. It could be an amazing campus building or a mixed-use village for students or employees. The university could even reuse the sign, replacing the “Pevely” with a big university sign that would be visible from all around.

    Please reuse this building SLU! It would bring a lot of goodwill.

    Reply
    • Matt Kastner

      August 29, 2011 at 12:01 pm

      I like your idea of reusing the sign. While I could miss the old “PEVELY” I think it would be a nice touch. I just pray this thing doesn’t get torn down. Or that another “accidental” fire doesn’t happen.

      Reply

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