Alderwoman works to halt $135M Central West End apartment build

ST. LOUIS, Mo. (KMOV) – Earlier this week, aldermen pushed forward a new, $135M build for the Central West End. It’s a luxury apartment that would go in the empty lot across from the Chase Park Plaza Hotel. However, despite residents and developers being tired of looking at that parking lot, one alderwoman is doing all she can to stop it.

“What we want? Shared equity! What we want? Shared equity?,” the crowd chanted.

That was the message from 17th ward alderwoman, Tina Pihl, local organizations and residents early Friday morning.

“We’re not against development, we’re against developer welfare,” Pihl said.

For months now, Pihl has been lobbying against the luxury apartment build on Kingshighway and Lindell. The prime real estate spot, gearing up for change, spearheaded by Koplar Properties.

“Looking out on this vacant lot has not been conducive to the neighborhood. It too will bring more residents, more activity to the whole area and actually help the entire city,” Bill Kuehling said.

Kuehling’s a long-time Central West End resident. He said he’s thrilled to see the new project.

“Greater density of development will help all kinds of restaurants, help the activity in the neighborhood, help bring additional safety,” Kuehling added.

Alderwoman Pihl said her plight is that Koplar would be getting 10 years of tax exemptions.

“Abatement was meant to help development happen when it normally could not happen. Do you think development could happen here? Yeah. Do you think this property needs help? No,” Pihl said.

We talked with other local developers to better understand the need and want for abatements.

“Every investor wants return on their capital. So, when you start thinking about what drives the cash flow back to the investor, it’s all about the expenses that the property can pay,” Matt Masiel explained.

Masiel’s the founder of Screaming Eagle Development, which has invested in St. Louis City for years now, bringing new builds, renovations and residents. With development’s inherent risk, Masiel said it’s crucial to offer tax breaks because that money will eventually come back and help revitalize.

“The corridor there that we’re trying to connect, you know, Forest Park, Clayton, to the downtown business district. That needs to be successful. That will also drive investment north and south,” Masiel said.

News 4 reached out to Koplar Properties to talk about their progressing development, but we haven’t heard back. For now, there’s no timeline on when the project will get full approval or when construction will start.

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