April 12, 2018

More than 20% of units leased at Ballpark Village apartment tower

A $120 million luxury apartment tower being built as part of phase two of Ballpark Village has generated significant interest so far, with more than 20 percent of the units already reserved, according to the developers.

The St. Louis Cardinals, along with development partner Cordish Cos., announced Thursday that more than 60 apartments are leased at One Cardinal Way, a 29-story, 297-unit apartment building scheduled to open in spring 2020.

“Two years away from opening, the rapid pace of leasing is a true testament to not only the passion of Cardinals fans, but the demand for living in a vibrant urban community, with baseball, entertainment and lifestyle amenities at your doorstep,” Marnie Sauls, executive director of residential management for Cordish Cos., said in a statement.

A model unit and leasing center has opened at 601 Clark St., within Ballpark Village. Tours are being offered from 10 a.m. to 6 p.m. Tuesday through Friday, 1 p.m. to 5 p.m. on Saturdays and by appointment.

“Cardinals fans will enjoy the new sales center which gives a great sense of what living in this exciting new neighborhood will be like.” sad Bill DeWitt III, president of the St. Louis Cardinals.

Rents start at a little over $1,400 per month for a one-bedroom unit and around $2,600 per month for a two-bedroom apartment, according to Jen DeMeyer, One Cardinal Way’s marketing and communications director. In the fourth quarter of 2017, rents in the downtown central business district averaged $978 in the multifamily segment, according to Cushman & Wakefield research.

Groundbreaking for the second phase of Ballpark Village took place in December. The 700,000-square-foot addition will include a 117,000-square-foot Class A office building anchored by PwC, a Live! by Loews hotel and 75,000 square feet of retail space.

View the article online here.