ST. LOUIS – A historic district in downtown St. Louis is set to come back to life, as a series of buildings are renovated and made ready for residents.
“When we first saw the bi-state building, it was just amazing views and the opportunity to be right next to the reimagined Arch grounds,” said Brian Minges, co-owner of Advantes Group. “There was a lot of work to be done, but you could see the potential. I think the proof of concept has been done. It rented extremely fast, and when you look around the United States, the riverfront is where the most prime development occurs.”
The Peper Loft reopened in 2018 after renovation as a combination home for residents and businesses such as Abstrakt Marketing and Advantes Group.
“When we see these really cool, old buildings in the heart of areas that have been just kind of let go, it’s hard for us not to see what they can be,” said Gretchen Minges, Brian’s wife and co-owner of Advantes Group.
The husband-and-wife team is behind some $80 million projects on North Second Street, such as the Hoffman, Greeley, and Trader buildings.
One hundred apartments had been added with some of the most impressive views of the Eads Bridge and a rooftop deck with an unparalleled view of the Arch. According to the company, new restaurants will open in the Peper and Trader lofts.
“So, the Landing is at a phase of finishing construction and leasing up what we’ve been working on since 2017,” Gretchen said. “Yeah, and then with the tower, which will be called the beacon. That will be starting from the infancy phases and taking the next few years.”
The St. Louis couple also plans to renovate the former AT&T tower in the central business district with apartments, a boutique hotel, and retail stores. The Advantes Group is getting historic tax credits for the Tower, which is set to become the Beacon over the next few years.
“Downtowns across the country are going to have to build their way out of post-COVID office and figure out a way to get people back downtown,” Brian said. “Activate the streets and get them back down there. And the way to do that is to pump residential and redevelopment into some of those offices to accommodate that growth.”
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