ST. LOUIS (KMOX) – After years of sitting unfinished, the skyscraper originally dubbed as the Roberts Tower is now complete.
It’s now the Tower at OPOP, or Old Post Office Plaza, and instead of condos it has 128 opulent apartments (starting at $1195/month), with floor-to-ceiling windows and balconies.
Nick Rabin is with North American Properties, a Cincinnati company that partnered with a Chicago company to buy the building and finish it. He says they made the investment because they see people flocking to urban areas.
“I’m very proud to say that Cincinnati has been out in front of this for the past six or eight years,” he says. “We’re now seeing some of the fruits of that labor. I think St. Louis is close behind.”
He says the Tower is 30 percent occupied now, and expects it to be full in less than a year.
Michael and Steven Roberts broke ground on the tower in 2007, but were hit by tough financial times and had to sell the building before it was finished. UrbanStreet Group and North American Properties Inc. bought the building and finished it.
Those companies also purchased the “Lofts at OPOP” building immediately next door, the Orpheum Theatre, and the old Mayfair Hotel. People began moving in to the Tower in July, but the entire building was only finished yesterday.
TAKE A LOOK INSIDE THE APARTMENTS HERE:
The Roberts Brothers intended their Tower to be condos, but Rabin says the new owners decided to go a different way.
“We’re not condo guys, and what we saw here was an opportunity to create one-0f-a-kind apartments in a one-of-a-kind building that can’t be replicated,” he says.
The developers have been renovating the exterior of the Lofts building, and Rabin says they’re considering turning the ground-floor retail spots into more apartments. The Mayfair Hotel is expected to re-open as a Magnolia Hotel in the very near future. They have a letter of intent on the vacant restaurant space in the ground floor of the Tower, and should announce the new restaurant soon.
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
MORE LOCAL NEWS:
- Bill Wilkerson Celebration of Life Announcement
- Gateway Motorsports Announces First Annual Lights Display
- Monsanto and Meals of Hope Volunteer for Hunger Awareness
- Marijuana Fines and State Audits Up for Discussion by Aldermen Today
- Local Restaurant Collecting Toys to Replace Burned Donations
- Congressman Davis Says Standard Deductions Will Double Under Tax Bill