Ribbon cut at first streets of St. Charles Building
October 26, 2012 by James
City of St. Charles officials and representatives of Cullinan Properties officially opened the first building – the 1,000 block – of the Streets of St. Charles development on October 23 with a ribbon-cutting ceremony. The mixed-use redevelopment of the 27-acre site at State Street and Interstate 70 has progressed, despite on-going economic challenges, since its 2008 groundbreaking.
Though the minimum scope of the project has been scaled back in the intervening years, the development is expected to eventually encompass 17 buildings, and more than 700,000 square feet. Construction has been made possible, at least in part, through $44m of Neighborhood Improvement District bonds approved in 2009.
Tenants already open for business include a public accounting firm, restaurant, a financial planner, spa, dental practice, and the Art Institute of St. Louis, with two additional restaurants scheduled to open in coming months. The 4,000 block building is proceeding as well, with off-site steel fabrication in progress. Above-grade construction will be evident in the next few weeks, with 300 luxury apartments planned to be completed in the fall of 2013.
The developer is in negotiations for tenants of the forthcoming buildings – a process that will continue for the foreseeable future as each stage of the development becomes ready for occupancy. With a succession of new businesses opening as part of the project, printing companies will no doubt see opportunities to work with these firms, and provide print services, as they introduce themselves to the St. Charles community.
Since 1988, Peoria-based Cullinan Properties specialized in development of mixed-use and commercial properties.