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.