September 06, 2019

Cordish Cos.' Ballpark Village apartment tower inches closer to completion in St. Louis

As the St. Louis Cardinals regular season nears its conclusion, development of Ballpark Village’s new apartment tower also is inching closer to completion.

The 29-story, 297-unit One Cardinal Way tower is about 65% to 70% complete, officials said Wednesday during a media tour of the construction site. Currently, the building is about 40% pre-leased, a figure the Cardinals and development partner Baltimore-based Cordish Cos. say is particularly strong for a building that won’t occupy tenants until next summer.

“At this point, to be 40 percent, that’s ahead of projection,” said Cardinals President Bill DeWitt III.

He said those who have pre-leased units include young professionals and families, travelers looking for a home base in St. Louis and businesses and corporations. DeWitt said several factors are driving interest in the project.

“One, I think we’re underserved in the downtown market for high-level residential,” he said. “Two, you’ve got proximity in the sweet spot of the Cardinals games, the river, the Arch, the downtown skyline and this other new construction we have going. And then three, I think it’s all these amenities we’ve built around it.”

One Cardinal Way will move its first tenants into the facility in June 2020, and the cheapest units still available start at $1,435 per month. So far, 15 of 21 floors located above the building’s parking garage have been poured.

“We’re going up at a clip of about one floor every 10 days,” DeWitt said.

One Cardinal Way is part of the 700,000-square-foot phase two expansion at Ballpark Village that also includes a 10-story Class A office building, a three-story retail building anchored by Onelife Fitness and a Live! by Loews hotel. Including tenant buildout, development of Ballpark Village’s second phase is expected to top $300 million.

The various segments of the project will open in a staggered timeline, beginning with the office building. Some office tenants will move into the facility in about a month, DeWitt said. The building will be anchored by PwC and still has some space available for lease.

“We are pretty much full. We have one floor that is kind of in negotiations. The rest of it is done. There’s one smaller space that we’re still talking to some people about that is available, so if somebody is interested we’d love to take a meeting,” DeWitt said.

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