The Farm and Home Savings building in downtown St. Louis is closing in on the finish line of a $15.5 million makeover that will flip the midcentury office block into 60 new apartments, with its ground-floor commercial space now officially up for lease. Sitting at the corner of Locust Street and 10th Street, the property will put about 8,110 square feet of storefront or creative office space on the street level, with room for either one large tenant or several smaller suites.
As reported by the St. Louis Business Journal, the project is nearing completion and carries roughly a $15.5 million construction price tag. The building is listed on the National Register of Historic Places as the Farm and Home Savings and Loan Association, according to the National Park Service.
Ground-floor Space Up For Grabs
Per a listing on CityFeet, two first-floor suites are available: a 2,550-square-foot space next to a 5,560-square-foot unit that can be combined into a single 8,110-square-foot layout, with an asking rate around $16 per square foot per year on a triple-net basis. The listing highlights loft-style finishes, large storefront glass and nearby parking garages, and it names Jack Junker of Manor Real Estate as the leasing contact.
Why The Timing Matters
Converting older office space into apartments has become a key tactic as downtown leaders look for more residents and livelier street-level activity. State redevelopment filings for “1001 Locust” show the property has been part of local TIF planning for years, according to the Missouri State Auditor, and local roundups noted that construction on the conversion kicked off last year, per Downtown STL…