Park Pacific

Location: St. Louis, Missouri
Partner: Parkside Tower LLC
Size: 370,000 SF, including 230 units

Overview: Once the headquarters of Union Pacific, the Park Pacific building became abandoned when the railroad company relocated their headquarters in the 1990s. As a result, the property was acquired by a developer who retained New + Found's affiliated design partner, Lawrence Group, as their architect. At 500,000 square feet, this was one of the largest empty buildings in downtown St. Louis, located across the street from City Hall. The building, listed on the National Register of Historic Places, was designed as an office building in the early 1920s. However, the city’s demand for office space would no longer be able to support an office building of its size, so a successful redevelopment would require a mixture of uses.

When the recession hit in 2008, the developers were unable to continue the project. This was such a critical building for downtown St. Louis; it needed to be revitalized. New + Found CEO Steve Smith, who was the architect at the time, stepped in to take over the project. He acquired the building from his client, and then put together an investment group allowing the project to move forward.

The completed development restores many of the original features including the historic lobby, executive offices and board room. To make the development viable, New + Found envisioned a vertical mixed use development, with retail on the ground floor, office spaces on floors 2 and 3, and multifamily housing from floors 4 -23. A new garage was added to support the development.

New + Found arranged financing through the US Department of Housing and Urban Development, which supported the project due to its critical impact on the surrounding area of downtown St. Louis. At the time, it was the largest HUD insured project in St. Louis history.

Features:

Robust Amenities: Features include an outdoor pool, conference rooms, fitness center, media rooms, and more.
Office Space: Creative workspaces designed to inspire and facilitate new ideas.
Retail Space: A variety of shops offering unique products and services.
Parking Garage: Ample space with modern facilities.

Achievements: