Developer sought for revived Clayton project
St. Louis Business Journal
October 27, 2010
By Kelsey Volkmann
Wanted: A developer to reignite a project that was delayed two years due to the recession and to build offices, retail or other businesses at Forsyth and Central in the heart of Clayton's central business district.
The St. Louis County Economic Council and Montgomery Development, an affiliate of Montgomery Bank, said Wednesday they want to work with a developer to determine an appropriate project for the area, which spans about three-fourths of a city block bound by Forsyth on the north, Bemiston on the east, Carondelet on the south and Central on the west.
In 2007, Montgomery Bank announced a $100 million plan to build a tower in Clayton, where it moved its headquarters from Sikeston. Led by General Counsel and Vice Chairman Joel Montgomery, the family-owned bank assembled several adjoining property parcels to build the office tower.
The project's scope had changed once St. Louis County officials began talking with Montgomery Bank principals about joining a county-owned parking facility next to the corner for an even larger project. At the time, the county owned the bulk of the site -- 54,600 square feet -- and Montgomery owned 29,700 square feet.
But the following year, Montgomery and St. Louis County delayed a request for proposals until the economy improved.
"While the economic rebound has been slower than we want, recent reports suggest St. Louis is showing strong signs of recovery," St. Louis County Executive Charlie Dooley said in a statement Wednesday. "We are issuing the (Request for Qualifications) to take advantage of our advancing economy and attract the best qualified developer to collaborate with us on this high-profile project."
Qualifications are due no later than 5 p.m. Dec. 17. More information is available online.
