KDG and KEAT Properties Announce New Residential Building at Olive Crossing
ST. LOUIS, MO – JUNE 9, 2021 – KDG and KEAT Properties are proud to announce a new luxury apartment community set to arrive at Olive Crossing in Spring 2023. The partners will break ground on Olive Crossing this fall with the 181-unit multifamily residential building, rounding out the mixed use development’s planned live/work/dine/stay environment. The property, currently being referred to as the Residences at Olive Crossing, will be located in the southwest corner of the 14.8-acre site. Olive Crossing will be owned and managed by KDG and KEAT Properties, which has owned and managed adjacent Price Crossing since 2006.
“Olive Crossing is a project over 50 years in the making – ever since Olivette identified the area for redevelopment in the late 1960s,” said Greg Yawitz, CEO of KEAT Properties. “Given the complexities of the parcel and the prior ownership structure, this development would not have been possible without our public-private partnership with the City of Olivette. As a 27-year resident of Olivette, I appreciate their desire and drive for what is best for our community, while understanding the challenges of developing a one-of-a-kind project and one of the most important intersections in St. Louis.”
Olive Crossing is uniquely positioned in scale and location. Sitting just minutes from the airport and the Downtown Clayton business district, this development provides unmatched accessibility while appealing to residents seeking a more contemporary, urban lifestyle. With the addition of the apartments, Olive Crossing’s use mix has been updated to include a 180,000+ SF office building and over 30,000 SF of retail, dining, and services. A 160-room dual brand Marriott Courtyard and Element hotel will sit on the southeast highway-facing corner of the site.
“Olive Crossing is the sexiest mixed use development in St. Louis on a truly iconic corner in the center of everything,” said Rusty Keeley, CEO of Keeley Companies, parent company of KDG. “Olive Crossing will have something for everyone – from dining and shopping to the perfect place for businesses looking to attract talent and simplify travel for partners.”
KDG President, Jason Braidwood, adds, “Both companies and homes anchor the most successful retail centers. Retail has always followed rooftops, and workforces follow the vibrancy and convenience of surrounding retail. The end effect is an environment able to withstand market cycles, day and night, up and down.”
The residential community will offer a mix of studio to three-bedroom market-rate apartment homes. The design is focused on the resident experience, with resort-style amenities located primarily on the first floor and among two lavishly landscaped courtyards. Residents will enjoy a sophisticated club room with full kitchen overlooking the pool and spa, a top-of-the-line fitness center with outdoor equipment, a pet spa, and multiple dog parks. The apartment units will feature open floor plans, the latest appliance technologies, work-from-home capabilities, and views of the property from private balconies. Other features are centered around technology and convenience, such as community-wide Wi-Fi, automated package delivery, individual workspaces with virtual meeting capabilities, and secured parking within the adjacent garage. In addition, residents will be able to take advantage of the community’s easy walkability to Olive Crossing’s restaurants, hotel, and entry to Centennial Greenway.
The Residences at Olive Crossing is the latest luxury apartment project by KDG, which will deliver 205 units in the Central West End Spring 2022. KDG also recently announced its 162-unit mixed use building in the Cortex Innovation District, slated to break ground this year. KDG delivered the 85-unit Euclid and 235-unit Chroma mixed use projects in St. Louis’ urban core in 2018, with both properties fully stabilized within one year of opening. KDG will lease the Olive Crossing Apartments through its world-class, in-house property management team.
“KDG has an amazing pipeline of development with a fantastic team to support our growth in St. Louis as well as the new markets we are targeting,” said Keeley. “Here we grow!”
KDG is an integrated real estate platform that develops, owns, and manages best-in-class properties with a tailored client experience. With a legacy and mission of investment with intent, KDG has a proven track record of more than $1 billion in real estate initiatives within more than 6.5 million square feet of commercial and residential space in the greater St. Louis region. Our portfolio includes build-to-suit class A corporate campuses and multitenant office spaces, infill developments, mixed use environments, and multifamily and student housing. KDG is part of the Keeley Companies family of companies that offer turnkey, innovative solutions nationwide within the development, construction, infrastructure, technology, fulfillment, and wireless industries.
About KEAT Properties
KEAT Properties was founded on family. Driven by our mission of enhancing communities with a collaborative spirit, our firm has experience on all sides of the table. Our world-class team not only understands how to negotiate, but we also know how location, costs, access, site feasibility, zoning, politics, and all facets of real estate interplay for your success.
Maggie St. Geme