Fred Kummer Acquires Half-Block in Downtown Clayton
Earlier this month, HBE Corp. founder, Fred Kummer, acquired a half-block along Central, Maryland and Bemiston avenues for a redevelopment project. After Chris Fox, Executive VP and Managing Director, and Dan Freeland, VP of Sales and Leasing, for Gershman Commercial Real Estate, received interest from local and national developers, they narrowed the list down to two local development companies and one national, with Kummer's offer winning.
In his plan, Kummer will build a $260 million luxury condominium and hotel redevelopment which will be privately financed with no tax abatement. As details are still be finalized, Kummer, with the help of Stafford Manion, owner of Gladys Manion, has a brought together a team of developers who are all very familiar with Clayton. This team includes Steve Smith, Lawrence Group CEO, as the architectural consultant, Gary Feder, Husch Blackwell, as legal consultant, and Judy Goodman, Lentz & Associates, as public relations lead.
The project has not been formally submitted to the City. Once an application is submitted the plan will be reviewed by both the Plan Commission and the Board of Aldermen during public meetings.
Original article posted by Steph Kukuljan, St. Louis Business Journal Reporter