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Historical February–March 2017 article. Dates, prices, services and contacts describe the source period; current availability has not been established.
A drug store and new office space may come to The Delmar Loop soon. At a joint meeting of the Delmar Commercial Committee, the Historic Review Committee, and the Community Development Committee on the evening of January 3rd, representatives of Pace Properties presented their proposal to redevelop the northwest corner of Delmar and Skinker.
The site extends from Delmar to Enright including the Shell gas station, a vacant one story building owned by Washington University and a parking lot. Rob Sherwood and Steve Heitz of Pace shared details and renderings of the $26M project.
The building would be three stories with two retail bays on the ground and two floors of office space above.
A one-story 4,000 square-foot section would meet the building to the west on Delmar.
The rendering shows the possibility of rooftop dining above. Pace is courting an unnamed national drugstore for the main 11,000 square foot retail space at the corner.
The drug store tenant requires a drive-thru, which would be accessed from Skinker.
Some meeting attendees expressed concern over northbound drivers turning left into the drive-thru. Currently on Skinker the southbound left turn lane starts north of where the drive-thru entrance is planned, so a northbound driver may have to wait in the left lane for an opportunity to turn left. Consideration of how often that situation might occur and its impact, whether adjustments to the site plan or street could alleviate or mitigate it, and how the effect on traffic patterns of the proposal compares to the current gas station is ongoing.
Each floor of office space above would be 25,000 square feet. Surface parking occupies the rest of the site up to Enright. Pace is engaging New Cote Brilliante Church about the possibility of using their parking lot across Enright as parking for employees. Pace estimates the building could support 280 jobs. Pace is seeking $4.4M in Tax Increment Financing (TIF). TIF bonds are issued to raise capital to help finance a project- in this case 16.8% of the total project cost.
Some of the property, sales, earnings,
and payroll taxes collected at the site–above current levels–would go to pay back the bonds (plus interest). Pace estimates the TIF would be paid off by 2040.
The city’s Tax Increment Financing Commission voted 5-1 to support the TIF application on January 4th.
The project will see further review by the Delmar Commercial Committee and the Historic Review Committee as well as by city officials.
The TIF will require approval by the Board of Alderman. Pace hopes to break ground in September and open in late 2018.
Original photograph caption
Proposed Northgate development rendering.
Originally published in The Times of Skinker-DeBaliviere, February–March 2017.
Read this article in the original newspaper issue.
Original source: SD_Times2017_02.pdf, printed page(s) 1, 2; PDF page(s) 1, 2.
