Maplewood Plan and Zoning Monday approved, for recommendation to the city council, a planned unit development for 19 acres south of Sunnen Products, next to the MetroLink station. The vote was 5-0.
The development, by Cozad Commercial Real Estate, includes 58 1-bedroom and 174 2-bedroom apartments ranging in rent from $1,000 to $1,600 per month.
President, G.T. Cozad, said the apartments would be in competition with Hanley Station, in Brentwood and apartments in Clayton and University City. He said they would be targeting professionals.
Some retail would be involved, and Cozad said a Maserati/Alfa Romeo dealership deal is being worked on. He said some hotels have been interested, but that they want to own the property, and it’s owned by Sunnen, which doesn’t want to sell. There will be no light manufacturing. The development will go next to city council.
See also: Maplewood Plan and Zoning rejects snuggling business
The committee also approved Wise Warriors personal training to operate at 7403 Manchester Road and the Maplewood Richmond Heights School District’s request for a minor subdivision to expand the Early Childhood Center.
That rent is insane. $1000/mo for a 1-bedroom apartment?! My mortgage payment is that much.
Actually, with upscale amenities this would be right in range for the St. Louis market.
Why are you comparing the price purchasing a piece of property and the benefits of ownership against the price of renting a piece of property and the benefits of flexibility and not being responsible for maintenance? I hear people do this and I have never understood.
I think Becca’s point would be that her home is probably quite a bit larger than a 1 bedroom apartment and includes a yard. Closer to the strip than this will be, I pay ca. $1,000 a month in mortgage and taxes in Maplewood for a 3 bedroom 2 bath home. I bought a few years back, but still. But your point holds about that the market will likely bear the price and that in the price is factored in the fact that renters don’t have to pay for maintenance. Even though it is rather high for the neighborhood currently, it is a good sign for the future, the downsides of gentrification notwithstanding.
Hopefully they will have a gated entry, and secured parking with cameras for security of the place. Maybe in the near future they can turn the apartments on Yale and Lyndover into communites like the ones proposed on the Sunnen site.
NICE! I’m a homeowner in Maplewood, but it’s amazing to see new developments like this. The neighborhood just keeps getting better and better!
Looks great! Pretty high rent for Maplewood though. Hopefully that will include access to a pool and other amenities?
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