ST. LOUIS — Green Street Real Estate Ventures is taking steps toward what could be the developer’s first new project since its washout.
ºüÀêÊÓƵ-based Green Street this week filed a “zoning only†building permit for a $600 million project on a vacant lot next to its shuttered Armory entertainment venue. Real estate documents show it is partnering with THO Investments, led by local developer Rod Thomas, on the deal.
Records also show Green Street owes more than $80,000 in unpaid property taxes, as well as a $2,641 sewer lien on the site.
Steph Kukuljan and other business reporters bring you insights into ºüÀêÊÓƵ-area real estate and development.
A zoning-only permit enables the city’s Building Division staff to review a proposal before an applicant invests more money into a project. It also enables a developer to get a public hearing faster than if it waited to submit full plans.
The permit does not detail what the developer wants to build, but Green Street Principal Phil Hulse previously told media outlets he was “working†on an office data center for the site.
Hulse did not return requests for comment Friday. Thomas, the new investor, also did not respond to a request for comment.
The permit for 500 Prospect Avenue in Midtown would mark the first major project for the real estate firm since it fired most of its staff, the Armory — once billed as “STL’s largest bar†— abruptly shuttered, and one of the company leaders filed for bankruptcy.
Late last month, Bar K — an anchor tenant to Green Street’s mixed-use development in Forest Park Southeast — closed suddenly and later filed for bankruptcy.
It was a stunning fall for a firm that once was one of the city’s most prolific developers.
