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Cardinal Glennon buys 3801 Park lot

The 10 acre parking lot formerly owned by Bi-State Development Agency at 3801 Park Avenue has been in a state of disarray for a number of years.It would be fair to call it a hideous eyesore, with cracked concrete and weeds everywhere.  Considering the lot’s proximity to Cardinal Glennon Children’s Hospital and various larger businesses, the condition of this lot has always seemed out of place and a real detriment to the area.  It looks like Cardinal Glennon must have agreed, as they just purchased the site for $3.3 million in August.

Since acquiring the property, the entryway has been rebuilt and a small section of the lot has been repaved. The land entire is bordered by 39th on the West, Vista on the North, South Spring on the East, and Park on the South. The area seeing this new work is the section that borders the Park side of the lot. New signage seems to indicate that this area is being set aside for parking for Cardinal Glennon employees.

The thing is, this area only covers out 10% of the entire site. One would doubt the hospital would spend so much for a few extra parking spots that are really pretty far from the main hospital. Did they just buy the lot to stabilize their surroundings or are there plans to build something there? At this point it is anyone’s guess, but there are currently a few other buildings on the Cardinal Glennon campus that are currently seeing construction, lending one the question whether this lot is being saved for the next phase of this development. Even if that is not the case, I’m sure the entire area will soon be cleaned up. Considering the fact that it is probably the single biggest eyesore in the entire neighborhood of Tiffany, anything will be better than the status quo. Check out the pictures below for a look at the current state of the lot. Note that the mural shown in the pictures is located on the 39th side of the lot.

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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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5 thoughts on “Cardinal Glennon buys 3801 Park lot”

  • samizdat

    September 21, 2010 at 10:19 am

    Well, it would be nice if they retained the remnants of the old Public Service Co. streetcar garage.

    Reply
    • Matt Kastner

      September 21, 2010 at 10:45 am

      Is that the particularly weedy section of the lot on the western end? I’m honestly not familiar about the streetcar history of the spot.

      Reply
      • samizdat

        September 22, 2010 at 12:18 pm

        Yes, the old brick half-building (WTF? I wonder what the story there is) is indeed the old streetcar site. In fact, one can juuuust make out old painted signage at the S archway, noting the BiState legacy. There are tracks on the N side where the cars entered the property from 39th. I haven’t seen too many pictures of this property during it’s heyday, outside of work vehicles and piles of cinders.

        Reply
  • Bob Davidson

    October 4, 2010 at 6:41 pm

    Hi, Matt.

    My name is Bob Davidson and I am the PR Director for SSM Cardinal Glennon Children’s Medical Center. I would agree with you that the lot we just purchased adjacent to our property has been an eyesore for some time.

    We were excited to purchase it, and do have some plans for expansion at some point. One thing we’ve noticed at Cardinal Glennon is that, as children’s health needs continue to grow, so does our need for space in which to meet those needs. As we were somewhat limited by our former footprint, this property acquisition allowed us to roughly double our land space for future development.

    Stay tuned as we continue to grow to serve children in our community.

    – Bob

    Reply
    • Matt Kastner

      October 5, 2010 at 4:09 pm

      Thanks for the insights Bob. Keep up the good work.

      Reply

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