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FOR IMMEDIATE RELEASE
ST. LOUIS TIF COMMISSION APPROVES IRON HILL DEVELOPMENT
(St. Louis, MO – April 15, 2020) – The St. Louis TIF Commission approved the TIF request by Cullinan Properties, Ltd. for its Iron Hill project, a 14-acre mixed-use development located at the northwest corner of Grand and Chouteau in St. Louis’ Midtown. The Iron Hill project continues to progress after having received overwhelming support from St. Louis TIF Commission members today with a vote of 7-0. The project will now be submitted for approval to the Board of Aldermen.
The TIF funds will be used for public infrastructure projects such as a public parking garage, city and state roadway improvements, intersection upgrades, improved accessibility and other related infrastructure.
“Both the Iron Hill Development as well as the St. Louis University/SSM Hospital are of unmeasurable importance to the future of our City. The Commission’s support is an important step in the process for the Iron Hill Development and the next 50 years of success in Mid-Town St. Louis,” wrote Dennis Corrigan, CEO of Corrigan Company Mechanical Contractors, a neighboring property owner, in a letter supporting the project.
“We’re pleased with the momentum the Iron Hill project has had thus far, and thrilled to have such great interest and support from the City, retailers, St. Louisans and our business partners,” stated Christopher M. West, Partner and CEO of Cullinan Properties, Ltd. “Today’s approval by the TIF Commission was an important step in making this project a reality for St. Louis, and we look forward to moving forward in the process.”
Cullinan Properties is pre-leasing commercial space at the $335MM Iron Hill development that includes retail, restaurants, entertainment, hotel, office and multi-family residential. The project is expected to break ground in 2021.
About Iron Hill
This cornerstone development located in Prospect Yards will be a vibrant mixed-use destination, combining shopping, urban living, modern workplaces, hotels, entertainment and diverse dining options. The development is situated between Saint Louis University’s north and south campuses and adjacent to the growing SSM Health/SLU Hospital. For additional information, visit www.IronHillSTL.com.
About Cullinan Properties
Cullinan Properties, Ltd. is a leading provider of real estate services specializing in commercial and mixed-use developments and acquisitions. With offices in Peoria, IL, Chicago, IL and St. Louis, MO, Cullinan Properties is a multi-disciplined real estate firm that develops, manages and owns mixed-use, retail, multi-family, office, governmental and medical properties throughout the United States, including Illinois, Missouri, Michigan, Georgia and Texas. For additional information about Cullinan Properties, Ltd., visit CullinanProperties.com.