While the transition has been ongoing for about a year now, a recent luncheon for Jefferson East, Inc. (JEI) was the official debut of the recently-formed economic development organization that combines the efforts of the Jefferson East Business Association and the East Jefferson Corridor Collaborative. The biggest thing to note here is that JEI will reach from downtown all the way to Grosse Pointe Park, encompassing the whole of the East Jefferson Corridor.
The luncheon, held Nov. 7 at the Rattlesnake Club, introduced Richard Baron, chairman and CEO of St. Louis-based developer McCormack Baron Salazar, as the keynote speaker. Baron's company has developed 146 projects in 35 cities with development costs in excess of $2.4 billion.
McCormack Baron Salazar is behind a
$60 million plan to build five blocks' worth of apartments, townhouses and small-scale retail on mostly vacant land east of the Renaissance Center, to be developed in two phases with potential for expansion beyond the initial proposal. While funding is still being finalized (as with most major developments that happen in the city, the funding is coming piecemeal from a variety of sources), Baron said that he hoped to start land remediation next month and break ground on the project by June 2014.
The East Jefferson Corridor has been getting a lot of buzz lately with the
Globe Building renovation, support from
TechTown's SWOT City program, the extensive
Alden Towers renovation – in fact,
Crain's just reported over the weekend that Alden Towers developer Triton Properties just bought four more apartment buildings along and near the East Jefferson Corridor – and local developer
Shelborne Development's investments in the Jefferson Chalmers neighborhood, a community eager to engage outsiders and grow with
pop-up businesses and
community gatherings.
JEI's new campaign "Go East," officially launching later this month, will highlight all of the various developments and investments happening along Jefferson and market the neighborhoods, businesses, and recreation options that exist in the East Jefferson Corridor.
Read more about
Jefferson East, Inc. Economic Development Director Ritchie Harrison on UIX.
Source: JEI; Richard Baron of McCormack Baron Salazar
Writer: Nicole Rupersburg
Got a Development News story to share? Email Nicole here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.