ST. LOUIS, Mo. (KMOX) — The Chicago company, Urban Street Group, which bought a bunch of buildings from the bankrupt Roberts brothers is laying out its plans for them.
Managing Partner Bob Burke tells KMOX News that work is about to begin on the unfinished Roberts Tower, which will become 130 luxury apartments.
“You’ve got extremely extremely strong occupancy rate down here, and the vacancy is primarily concentrated in the large units, quite frankly,” says Burke. “Your occupancy rate on smaller or one bedroom apartments are almost in the high 90s.”
Meantime, Urban Street is applying to demolish the historic, Tudor-styled building at 10th and Locust. That requests has rising some ire. Burke says Locust in general is like an abyss — with vacant buildings, no lighting and a crumbling street scape.
But Burke says for retail to succeed downtown, it takes more than more residents.
“It takes everybody, it takes your residential population, it also takes your businesses guys, men and woman who are in these office buildings throughout the day — it takes everybody to activate retail.”