{"id":1004184116,"date":"2017-07-17T09:03:27","date_gmt":"2017-07-17T17:03:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004184116"},"modified":"2022-12-09T02:07:29","modified_gmt":"2022-12-09T10:07:29","slug":"alterra-worldwide-acquires-520-ksf-mixed-use-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alterra-worldwide-acquires-520-ksf-mixed-use-asset\/","title":{"rendered":"Alterra Worldwide Acquires 520 KSF Mixed-Use Asset"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004184118\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004184118\" data-attachment-id=\"1004184118\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/alterra-worldwide-acquires-520-ksf-mixed-use-asset\/jefferson-arms\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png\" data-orig-size=\"800,643\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Jefferson Arms\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png?w=800\" loading=\"lazy\" class=\"wp-image-1004184118 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png\" alt=\"Jefferson Arms\" width=\"300\" height=\"241\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png?resize=300,241 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Jefferson-Arms.png?resize=768,617 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004184118\" class=\"wp-caption-text\">Jefferson Arms<\/p><\/div>\n<p>Alterra Worldwide has acquired Jefferson Arms, a 520,000-square-foot historical building located in downtown St. Louis. The company plans a $104 million renovation strategy to include 240 apartments, a 220-key AC <a href=\"https:\/\/www.commercialsearch.com\/news\/ac-hotel-atlanta-downtown-makes-debut\/\">Marriott-brand hotel<\/a>, and commercial space with restaurants, retail and office spaces. Airmbridge Hospitality will serve as the hotel operator and Merriman Anderson Architects will design the project.<\/p>\n<p>Located at 401-15 N. Tucker, Jefferson Arms development is in close proximity to Cardinals Busch Stadium, America\u2019s Center Convention Complex, Keiner Plaza and the newly renovated Arch Grounds. The 240-units coming online are a mix between old and new, combining original flooring and exposed brick to imported tiles and mosaics, cabinetry and quartz countertops.<\/p>\n<h2>Myriad\u00a0amenities<\/h2>\n<p>Common area amenities will include:<\/p>\n<ul>\n<li>fitness center<\/li>\n<li>yoga studio<\/li>\n<li>art room<\/li>\n<li>music room<\/li>\n<li>cinema room<\/li>\n<li>karaoke room<\/li>\n<li>game room<\/li>\n<li>tanning salon<\/li>\n<li>business center<\/li>\n<\/ul>\n<p><em>\u201cGiven the historic building\u2019s extensive environmental remediation and rehabilitation costs, the execution of $20 million in Tax Increment Financing (TIF) was essential to successfully fund the development of this transformative project,\u201d<\/em> Alterra CIO Jose Quesada said in a statement.<em> \u201cWe appreciate St. Louis\u2019 support in our effort to redevelop such an iconic building in the downtown area.\u201d\u00a0 <\/em><\/p>\n<p>The renovated development will include tenants such as Koleksiyon, a European furniture manufacturer, which will be opening its fourth U.S. location at Jefferson Arms, and Linea D\u00e9cor, a kitchen cabinet producer from Europe, which will open its largest U.S. showroom.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company plans to complete a $104 million redevelopment of the project, which will include 240 units, a 220-key hotel and commercial space.<\/p>\n","protected":false},"author":436,"featured_media":1004184118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,13,21752,21742,1611],"tags":[36784,36782,36783,33877,36785],"class_list":["post-1004184116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-midwest","category-mixed-use","category-latest","category-st-louis","tag-airmbridge-hospitality","tag-alterra-worldwide","tag-jefferson-arms","tag-marriott","tag-merriman-anderson-architects"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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