Conrad Properties Corp. to Launch $15 Million Renovation of Hammermill Paper Building at 1000 Clark Street in Cupples Station

ST. LOUIS - Developer Conrad Properties Corp. is planning to begin work this fall on a $15 million renovation of the six-story Hammermill Paper Building at 1000 Clark Street in the Cupples Station complex in downtown St. Louis.

“We are intrigued by the prospects for Downtown as a whole and the Cupples Station district and Ballpark Village redevelopment area in particular,” said Kevin Kloster, president and chief executive officer of Conrad Properties. “To us, the fact that all buildings in Cupples Station are now under development or in rehabilitation speaks volumes.”

“As we conducted our evaluation of the area, the Hammermill property stood out,” Kloster continued. “It has architectural character, a mid-size floorplate that is ideal for the sub-market and a superb location - within two blocks of the entrance to the new Busch Stadium, within three blocks of SAVVIS Center and two blocks of a Metrolink station. We look forward to contributing to the development momentum so evident throughout the district.”

J. Bucks Restaurant Eyeing Downtown Location

Noted restaurateur Ted Geiger said the Hammermill building's 12,500 square foot first floor is one of several locations he is evaluating Downtown. He is working closely with Kloster on the specifications of a new 250-seat J. Bucks Restaurant.

“Conceptually, we're looking to be a bit more sports-minded in our space-plan and decor to capitalize on the strengths of the location,” said Geiger. “We see the makings of a double-play here, drawing baseball fans and fans attending sporting events at SAVVIS Center. The location touches everything -- and it has easy interstate access and no problems with parking.”

“We are optimistic about extending our excellent working relationship with Ted, who is our partner on Finale Music and Dining at our Clayton on the Park residence and hotel in Clayton,” said Kloster.

Geiger originated the J. Bucks Restaurant concept, named for the St. Louis family of announcers, Jack, Joe and Julie. The 28-year restaurant industry veteran - who has opened 102 restaurants in his career - launched the first J. Bucks' in Clayton in 1999. He opened a second J. Bucks in West County Shopping Center in 2002. A third will open later this month in Fairview Heights, Ill.

“Advanced” Negotiations with 50,000SF Office User

Additionally, Kloster said he is in “advanced stage” of negotiations with a user seeking 50,000 square feet of office space.

The building will be renovated in accord with LEED (Leadership in Energy and Environmental Design) Green Building standards.

The building will have 80 on-site parking spaces and access to a multi-level parking structure within one block of its main entrance.

The Lawrence Group will serve as project architect and interior designer.

Enterprise Bank & Trust is lead lender on construction and permanent financing, with participation from USBank. USBank is partnering/funding investment tax credits.

The Hammermill Paper building is Conrad's second mixed-use historic rehabilitation project in the city of St. Louis. In 2003, it opened M Lofts, a $9 million transformation of the former International Shoe Co. factory in Lafayette Square. The development, home to the hugely popular restaurant, 1111 Mississippi, combined 36 loft-style apartments and 11,000 square feet of retail space.

In 2004, Conrad opened its second project in the city, Metro Lofts, a 213-unit apartment community at 4535 Forest Park Ave. in the Central West End. The $36.4 million project was the first major newly constructed for-rent property developed in the district in decades.

Next month, Conrad will break ground on a third city project, 4545, a $28 million, 10-story, 34-unit condominium at 4545 Lindell Boulevard in the Central West End.

Conrad is currently engaged in two other major developments: Maryland Walk, a 17-story, $75 million mixed use property at 8025 Maryland Ave. in Clayton that combines 8,000 square feet of street level retail space with 99 condominiums; and West Village, a condominium in Creve Coeur where Conrad broke ground this week on a 24-unit Phase I.

Founded in 1971 by Bob Saur, Conrad has established a singular niche as the leading developer of upscale, mid- and high-rise residential buildings in metro St. Louis. All told, it has completed a diverse array of projects including golf courses and office buildings valued at nearly $500 million.