The Boulevard -- Saint Louis

Pace Properties recently constructed Phase I of The Boulevard -- Saint Louis on property located across Brentwood Boulevard from the St. Louis Galleria. Phase one includes 120,000 square feet of retail, restaurant, and commercial space', including Crate & Barrel, Maggiano's Little Italy, and PF Chang's. Allegro Apartments are also part of Phase I. Allegro Apartments' 74 units range in price from $1000 / month for an efficiency to $2400 / month for a two bedroom unit with a den.

Phase II has just been announced. This $140 million expansion will include a 21 story, 112 unit luxury condominium tower and 33 "Main Street" condos at a cost of $50 million. A new hotel and 110,000 square feet of retail will complete the phase at a cost of $90 million. This phase will be located on the south end of the current complex.

The new condo tower will be called Valencia Place and will feature units that range between 800 and 2,700 square feet. According to a representative from Pace Properties, there is a great deal of interest from retailers looking to move to Phase II. An important trend in the current real estate market is to combine residential, retail, and restaurant spaces in developments.