As the urban heart of St. Louis gets a much-needed boost, the Near North Side sees its future shaping up with the Redevelopment of Preservation Square. The neighborhood's overhaul, backed by the Choice Neighborhoods Initiative (CNI), is ringing in a new era of affordable housing. The area enclosed by Cass Ave., 14th, O'Fallon St., and Hogan streets is shedding its worn-down image for one that reflects modern community needs.
It began with the city's selection in 2016 for a sizable $29.5 million federal grant, part of a broader strategy to pump life into five neighborhoods that could use a helping hand. However, years later, the investment has snowballed into something more significant, thanks to a fruitful partnership involving the City of St. Louis Community Development Administration (CDA), developer McCormack Baron Salazar (MBS), and the service-focused Urban Strategies, Inc. (USI). According to a City of St. Louis press release, what started as a federal grant is now leveraging over $250 million in development funding.
Sharon Poole, who is managing the property for MBS, shared her insights on the development. "Preservation Square ensures that residents of all backgrounds can access quality housing that fits their needs," Poole told the City of St. Louis. The project features a variety of living spaces, from apartments to townhomes, catering to a diverse community.
With phases 1, 2a, and 2b completed, phase 4 is currently underway and expected to be wrapped up by early 2026. Once two dilapidated Section 8 homes, Preservation Square is now a sought-after address, boasting high occupancy rates for its phases thus far. "It’s a challenge to balance affordability and our amenities, but our programs ensure that our low-income and tax credit residents are able to afford and enjoy living here," Poole highlighted in the City of St. Louis announcement.
Additional developments under the CNI banner include the transformation of the Brewery Apartments into affordable senior housing, a revisioning that promises to maintain the historical character of the iconic buildings while updating them with modern comforts. Moving forward, the Choice Neighborhoods Initiative promises to keep strengthening community ties through strategic urban renewal, nurturing an environment where residents can not only live but also work and thrive.
