By Michael Calhoun

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.”

KMOX © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.


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