Pevely Dairy development

With the abrupt closure of the Pevely Dairy Complex in Midtown St. Louis last October, things weren’t looking too good for the corner of South Grand and Chouteau. With a sluggish economy, who would want to buy the place? Enter mystery developer. Things are looking up

The Post Dispatch is reporting that the 10-acre complex is now under contract through Hilliker Corporation. The buyer has not been named, but rumors say that Bruce Development Co. of Clayton is taking on the project. The only caveat is that the project hinges on the site being granted historic status to make tax credits available. The buyers are reportedly holding off closing until this process is made official.

This will cause a delay in the starting of the project, but the process will likely be a mere formality. Built in the 1920′s the site is in an important location, sandwich between SLU’s main campus and the medical school. Many less deserving buildings have been added to the National Register of Historic Places, so this seems like a sure thing.

Assuming the development goes ahead, it would likely included a significant residential element with street-level retail space. A lot of traffic passes by the area and there is a lot of demand for housing so both aspects would probably find ample market. It could take over a year before the historic status of the site is official, but if all goes well, this one could be moving forward next year. Hopefully it will meet no resistance as it would really fill in South Grand nicely.