Washington University will announce later today an $80,000,000 redevelopment plan consisting a storefronts and 550 apartments for students. The redevelopment will be on the east end of the U City Loop with a piece of it being in the City of St. Louis as well.
Here is a link to the article by Tim Bryant on stltoday.com
A couple of interesting notes are that a study indicated that the density of The Loop could sustain an additional 155,000 square feet of retail space. Also, Wash U already owns all of the buildings and land required for the project. They will be razing buildings dating to 1928 and plan to build a new tower. A St. Louis alderman is quoted as saying students prefer to live in The Loop rather than on campus because of the neighborhood feel. A Wash U representative says that the housing in the development will cater to upper class students. The owner of Subterranean Books expressed concern that The Loop is going to begin to lose its local flavor in favor of nation chains. This is something that goes with the territory in gentrified neighborhoods and The Loop is no exception boasting a Starbucks, Chipotle and Panera already.
Also noted in the story are some of the details of the coming Loop streetcar project which is expected to have a major economic impact on the neighborhood by bringing in more tourists and visitors from other neighborhoods along the central corridor without the need for parking in the The Loop.