ST. LOUIS (KMOX) - It’s time to let it go, apparently.
St. Louis City Treasurer Tishaura Jones says the city will issue a demolition permit soon for the old Cupples 7 warehouse.
“It’s time,” she told KMOX News. “I mean, we’ve had ten warehouses there and we saved eight. I think that’s a pretty good percentage.”
Jones says shoring up the abandoned, roofless building would cost $4 million and, with no developer in sight, she can’t afford to throw “good money after bad.”
“Cupples 7 sits on the old Chouteau’s Pond and it’s on a marsh so it would be a minimum $2 million just to stabilize the base of the building and then you add another $4 million just to stabilize the building itself,” she said.
Late last week, a representative for Vertical Realty Advisors said they were waiting to hear back from the city on their offer. A message this morning calls the demolition “unfortunate.”
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