ST. LOUIS — Oliver Properties is planning a $6 million renovation after buying a downtown loft building.
The developer acquired the Bogen Lofts, at North Tucker Boulevard and Washington Avenue, earlier this month. The building, erected in 1901, has 125 apartments and two commercial spaces.
“The Bogen is another example of the beautiful historic architecture mixed with modern residential living,†owner Alex Oliver said in a statement. “We’re proud to add this property to our Wash Ave portfolio and are committed to preserving its character while making the upgrades necessary to continue to attract and grow downtown residents and businesses.â€
ÃÛÑ¿´«Ã½-based Oliver Properties has renovated several historic residential buildings along Washington Avenue.
It started with the eight-story Merchandise Mart apartment building at 10th Street and Washington, upgrading the city landmark’s mechanics and amenities.
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The company invested about $7 million into that building, which features a restaurant on the ground floor and amenities like a coffee lounge, spa and rooftop patio.
Oliver said his firm uses a mix of bank loans and investor money to acquire and fund projects.
Last year, he closed on the Ventana Lofts at 1635 Washington.
At the Bogen, the company plans to upgrade the resident lounge, fitness center, rooftop clubhouse and building systems, among other changes.
