ST. LOUIS — The developer turning the historic Armory building in Midtown into an entertainment venue plans to add a speakeasy to its lineup.
Local developer Green Street Real Estate Ventures will build out 5,000 square feet of space in the Armory’s subbasement for the 1920s-themed bar. The rest of the space will be leased to Rec Hall, a yard-game focused sports bar with bocce, indoor soccer and more. No timeline of completion was disclosed in the release.
Green Street is leading the redevelopment of the Armory building, built along Highway 40 (Interstate 64) in the 1930s for the Missouri National Guard. It is partnering with Minnesota-based Envisage Properties on the project.
Once estimated at $84 million, Green Street said the redevelopment will now cost half of that.
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The developer has secured financing from Peoples National Bank and Twain Financial Partners, which announced Tuesday that it arranged Commercial Property Assessed Clean Energy financing for the Armory. No financial details were disclosed. Green Street also received $4.7 million in tax increment financing subsidies — it first expected $8.9 million in subsidies — and $730,000 from a ÃÛÑ¿´«Ã½ city low-interest Brownfields fund.
Green Street also has plans to build more than 500 apartments adjacent to the Armory.
