Now that St. Louis’ Ikea store is open and drawing the predicted swarm of shoppers, developers are busy with residential and commercial projects near the store at Forest Park and Vandeventer avenues.
In sight of the massive blue and yellow furniture store, which opened Sept. 30, is Gerhart Block at 3910 Laclede Avenue. It’s an $8 million rehab of a structure built for $40,000 in 1897 for a realty company.
Its current owner, Capstone Development of Clayton, is redoing the two-story building as 17 apartments and ground-floor commercial space.
Capstone’s president, Bill Luchini, said street and sidewalk improvements done for Ikea will have a positive spillover effect in the area. Foot traffic will increase, he said.
Already signed to lease a Gerhart Block storefront is a Gyro Co. restaurant, Luchini said. A coffee shop and restaurant is near an agreement to occupy a larger, more prominent corner space, he said…(read more)
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