Laclede’s Landing Redevelopment Projects Progress with SLDC Funding and Incentives

This week, Advantes Group announced its progress on several redevelopment projects on Laclede’s Landing. Advantes acknowledged the redevelopment would have been possible without the assistance of St. Louis Development Corporation. The projects include:

Paincourt Lofts: $3.1M Redevelopment *

Completed in November 2022, the 10-unit building is fully leased. A commercial tenant will be announced soon.

Hoffman Lofts: $9.6M Redevelopment

St. Louis Development Corporation provided a vital New Markets Tax Credit allocation to Hoffman Lofts, which is currently under construction.

Greeley Lofts: $13.0M Redevelopment

Live Oak Bank provided PACE financing for Greeley Lofts, which is also under construction.

Trader Lofts: $5.7M Redevelopment *

Advantes also announced it closed on construction financing in late December 2022, and immediately began construction. Trader Lofts is the redevelopment of the historic Levee Building built in 1851 at 801-805 N. Second Street. Partially vacant for almost a decade and fully vacant since 2017, the four-story, 32,736 square foot building is undergoing a $5.7M redevelopment into 20 apartments and 5,338 square feet of street front commercial space. Completion is expected February 2024.

* Approved for 10-year 90% tax abatement.