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11/21/2018
The Bi-State Development's board late last week approved a proposed $70 million transit-oriented development project at Metro Transit-St. Louis' Forest Park-DeBaliviere Transit Center in St. Louis.The approval is conditioned on the project's developer — Pearl Real Estate Cos. — securing all needed approvals, including from the city of St. Louis, surrounding neighborhoods and the Federal Transit Administration, according to a Metro Transit blog post.Pearl Real Estate's proposal calls for three buildings that would transform Metro Transit's former passenger drop-off area and park-and-ride lot, as well as the retail property north of the transit center. The stop is served by MetroLink's Blue and Red light-rail lines."Pearl has recognized the opportunity to bring national focus to St. Louis by transforming the existing Forest Park-DeBaliviere MetroLink Station and adjacent retail center into a catalytic transit-oriented development,” said Jeff Tegethoff, principal with Pearl Real Estate. "The result will have lasting impact on St. Louis for generations."The proposal includes 265 residential units, 33,888 square feet of ground-floor retail, streetscape and public space improvements and up to 342 parking spaces.The developer aims to start work in late 2019 and wrap it up in late 2020.