Newspaper article St Louis Post-Dispatch (MO)

Desco to Start Construction on $80 Million Development on Old Shriners Hospital Site

Newspaper article St Louis Post-Dispatch (MO)

Desco to Start Construction on $80 Million Development on Old Shriners Hospital Site

Article excerpt

The Desco Group will begin demolishing the old Shriners Hospital in Frontenac within the next week, officials said Wednesday, paving the way for the firm's planned $80 million mixed-use development to be anchored by a Life Time Fitness.

The project, which will also include additional retail and office space, is expected to be complete in the fall of 2019. Two sit-down restaurants are also part of the plan. Tenants for those portions of the project have not yet been disclosed.

Desco closed on Feb. 6 on its deal to acquire the 15-acre site from the hospital. Financial terms of the deal were not disclosed. The property, according to St. Louis County records, has an appraised value of nearly $12 million.

After the real estate deal, Desco sold 10 acres of the site to Life Time Fitness. …

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