30-story, $135M apartment tower proposed at Lindell and Kingshighway

By Jacob Kirn – St. Louis Business Journal – February 22, 2022

St. Louis and Chicago real estate firms are pitching a 30-story, 293-unit luxury apartment tower at Lindell and North Kingshighway boulevards, near the Chase Park Plaza, in a development that would further transform an area near the northeast corner of Forest Park — which already saw a 36-story building finished in 2020.

St. Louis-based Koplar Properties, which owns a parking lot at 4974 Lindell in the Central West End, and Albion Residential of Chicago said they hoped to break ground on the so-called Albion West End, which would also feature 340 parking spaces and two ground-floor retail spaces, at the site this fall. It’s also to include a 10,000-square-foot lobby, co-working spaces, a fitness facility with an outdoor pool, and a rooftop deck including a sports lounge and “stargazing room.” Units on the 24th floor are to have walk-out terraces.

No completion date was given. Seeking approvals, Koplar in December submitted plans to the city of St. Louis, which said its review is ongoing.

A spokeswoman for Koplar said the project is estimated to cost $135 million and is being privately financed. She said the developers would work with the city as they seek a public subsidy package for the project. Past incentive deals struck by Mayor Tishaura Jones’ administration have included contributions for affordable housing.

The glass tower, which would sit on a raised plaza, is being designed by Chicago-based Hartshorne Plunkard Architecture, with landscaping from Nashville-based Hodgson Douglas. SDL is acting as civil engineer, with legal work by Husch Blackwell and Lewis Rice.

Koplar Properties’ president, Sam Koplar, said in a statement that the company, long active in the neighborhood, took its time finding a solution for the site “because it had to be done exactly right.”

“The advancement of this project is truly a tribute to my father (Ted Koplar) and his vision and love for St. Louis, and I’m excited that with Albion Residential we have found a partner that shares our values, our attention to detail and our commitment to exceptional projects that are positively transformative,” he said.

Abion’s president, Jason Koehn, said the tower is likely to attract residents who “work at nearby stalwart establishments like Barnes-Jewish Hospital.”

Rent figures weren’t provided, but the Albion West End will be positioned immediately adjacent to 100 Above the Park, a luxury apartment development that finished in 2020 and lists rents from $1,500 to more than $4,000 per month. Developed and owned by Silliman Group and Mac Properties, with help from tax abatement and a sales tax exemption on construction materials, the website for 100 Above the Park says 83 of 316 units are currently available for rent.

The Koplar family has long been active in the Central West End.

It holds Maryland Plaza, and its new seven-story AC Hotel, a partnership with Homebase Partners and Concord Hospitality Enterprises at 215 York Ave., opened in December.

Sam Koplar’s grandfather Harold Koplar originally owned the site and founded KPLR, better known locally as Channel 11. Sam Koplar’s father, Ted, later ran the television station and created the popular animated TV series “Voltron.” The family sold the television station in 1997 for $150 million.

The hotel project was more than a decade in the making after Sam Koplar was involved in rehabilitating the historic KPLR offices next to the Chase Park Plaza into luxury apartment building York House.

The Koplar family owned the Chase from 1929 to 1981.

First posted in Uncategorized | Tuesday, February 3, 2022