Bonds get preliminary approval: STL Today
May 14, 2011 -Dominium received approval from the St. Louis Industrial Development Authority on the issuance of $21 million in tax exempt bonds to aide in the conversion of the Metropolitan Building. The renovations will convert the historic building into a 72-unit apartment complex.
Dominium has plans to complete renovations on the building within 60 to 90 days of its purchase, company Vice President Jeff Huggett told the board. He went on to explain that the project, totaling $85 million will take approximately a year to complete. Studios for painters, sculptors, musicians and dancers, plus a fitness room and parking for about 75 vehicles, are included in the development.
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