Construction On First building at Noah’s Ark Site Now Expected This Fall
City officials are close to issuing the building permit for the first of a series of mixed-use buildings planned for the site of the old Noah’s Ark complex at Interstate 70 and Fifth Street.
However, a spokesman for the developer – Cullinan Properties – said Wednesday that a starting date for construction has yet to be pinned down. Brian Buralli, Cullinan’s marketing manager, said only that it would be later this year.
Bruce Evans, the city community development director, said the first permit would be for a five-story building – with four floors of apartments above a floor of retail space.
Last March, Cullinan had said construction on the structure and of a four-story building with offices and retail space would begin in the summer.
Buralli said the delay was due to a combination of factors, including weather issues, the timing of the sale of bonds that are financing infrastructure at the site and the general stall in the economy.
Buralli said Cullinan still plans on the first two buildings opening in the middle of next year. He said grading for the project, called Streets of St. Charles, is underway.
Buralli said Cullinan, which is based in Peoria, Ill., is working with some other developers in the effort to land tenants – including the St. Louis area’s Balke Brown Associates, NAI Desco and Foundation Commercial.
Balke Brown is focusing on office leasing, NAI Desco on medical office space and Foundation on retail and restaurants.
About $7.5 million in city-backed bonds were sold for the project in July. Those are the first in a series of bond issues totaling around $40 million to finance items such as streets, sewers and garages.
Because Cullinan had been unable to get buyers for bonds backed only by the company, the City Council in January added city backing to the bonds to give the stalled project a boost.