The Skinker-DeBaliviere Community Council (SDCC) has voted to begin negotiations with
Pantheon Corporation for the sale of Kingsbury Redevelopment Corporation (KRC). KRC was formed in 1971 and given by the city of St. Louis the right to develop a blighted area in Skinker-DeBaliviere. This area includes the 57xx McPherson, Kingsbury, Westminister and the 58xx and 59xx Washington. KRC has been “holding” these rights to redevelop as it has not been financially possible to begin actual construction. Many of the buildings on these blocks are already deserted and in the process of demolition.
Pantheon Corporation is one of the few companies doing quality work in the city. It has recently finished complete rehabilitation of the Convent Gardens Apartments, a Central West End project that has been greatly praised by both the neighborhood and metropolitan press. One of Pantheon’s principal stockholders was involved in LaClede Town, Operation Breakthrough, and has done work for Jeff-Vander-Lou.
They want to own KRC to put together an area including several blocks east of DeBaliviere which can be rebuilt with both new units and rehabilitation of good existing structures. The new units in the S-D area will probably be common-wall town houses to be owner occupied.
Unlike many would-be developers, Pantheon has some commitment for financing through a large downtown bank. However, SDCC intends to regain the rights in our neighborhood should the plan for redevelopment not materialize.
Originally published in The Paper, May 1975.
Read this article in the original newspaper issue.
Original source: SD_Times1975_05.pdf, printed page(s) 1, 2; PDF page(s) 1, 2.
