HBE eyes $275 million Clayton development

St. Louis construction firm HBE Corp. bought several parcels of land in Clayton Thursday to make way for a $275 million hotel and condominium development.

The project could add two new high-rises to the city’s growing skyline, where “an abundance” of apartment towers already exist, said Stafford Manion, president of Clayton-based Gladys Manion Real Estate and a consultant on the HBE project.

“They’re all very attractive and doing fairly well,” Manion told the Post-Dispatch. “But there has been no condominium development in the city of Clayton for a very long time.”

Three of Clayton’s major condo high-rises all opened more than a decade ago.

Businesses currently operating in the area will not be able to renew their leases and will need to move out next year.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch