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CRG Announces Chapter at the Streets Apartments in St. Louis’s St. Charles Sub-Market

January 14, 2022

CRG, the national real estate development and investment firm, today announced the commencement of construction for a multifamily residential development on a 2.2-acre site at 333 Mulholland Drive in the Streets of St. Charles mixed-use district in St. Charles, Mo., a suburb of St. Louis located approximately 25 miles northwest of the city center along I-70. CRG, in partnership with the AFL-CIO Building Investment Trust, advised by PNC Realty Investors, Inc., plans to build a five-story apartment building, dubbed Chapter at The Streets, that will include 245 units and ground-level parking. Completion is anticipated in the second quarter of 2023, with the first units turned over for occupancy in the same quarter.

“We are excited to bring a new, modern living option to historic St. Charles with a residential offering designed to take advantage of the multitude of amenities this area offers,” said J.J. Smith, CRG’s managing partner and residential group leader. “Chapter at The Streets will deliver an experience that complements the excitement and live-work-play energy of The Streets of St. Charles neighborhood.”

Located on Mulholland Drive near Lombard Street and Main Street, Chapter at The Streets will offer one- and two-bedroom floor plans, with rents starting at $1,400 per month. Apartment features include modern open plans with wood-style flooring; eat-in kitchens with islands, quartz countertops and stainless steel appliances; thoughtful work from home space; primary bedrooms with walk-in closets; in-unit laundry; and designer lighting, including statement pendants and overhead recessed fixtures.

Chapter at the Streets resident amenities include a swimming pool with hot tub; an outdoor recreational sun deck with fire pits, grilling stations, and seating areas with shade; a fitness center with cardio and strength equipment and on-demand training; a resident lounge designed with a chef-inspired demonstration kitchen; a coworking space and Zoom-rooms to accommodate remote work; and a pet-grooming station. The community will offer AT&T’s Instant-On service and wireless connectivity at speeds of up to 1GB with coverage to include all common areas, including the lobby and outdoor recreation areas. Residents will have access to ample parking, electric car charging stations, and bicycle storage on the ground level.

Tucked within the 27-acre The Streets of St. Charles mixed-use destination, Chapter at The Streets is ideally positioned to enjoy many of the area’s notable attractions. Residents are within walking distance of more than 1 million square feet of retail, service and recreation establishments, including a state-of-the-art movie theater, offices, two hotels, specialty shops, experiential retail, renowned restaurants and year-round community events. The community is steps from the 240-mile Katy Trail, a path active with cyclists, runners and outdoor enthusiasts that is the country’s most extensive recreational rail trail and follows Lewis & Clark’s route along the Missouri River. One mile to the northeast of the development is St. Charles’ historic downtown area, which offers a wide selection of restaurants and shops along the riverfront.

CRG’s Chapter-branded multifamily product is a national collection of upscale apartments designed to provide spaces and experiences that live well and enhance residents’ daily lives. Chapter at The Streets is the third Chapter-branded project and is part of CRG’s national residential development strategy. CRG aims to invest $1B in multifamily developments in the U.S. first- and second-tier suburban markets as part of its strategy, particularly in the Sun Belt, and in urban infill areas. CRG achieved a significant milestone towards realizing this goal by completing Broadway Chapter, a five-story multifamily complex in Fort Worth, Texas, earlier this year. Further progress was demonstrated through its development of the 12-story residential tower, Upshore Chapter, a 12-story tower in Chicago’s Uptown neighborhood.

“Part of CRG’s residential development strategy is to deliver new-construction apartment communities for middle- to upper-class professionals in high-growth markets, and Chapter at The Streets perfectly aligns with this plan,” said Smith. “We believe in continued, long-term demand for the live-work-play lifestyle near green, open space, yet still in proximity to urban job centers. Walkable suburban communities like Chapter at The Streets that combine residential with retail services, along with easy access to nature and recreation, will be immensely appealing to renters. You hear a lot about 15-minute cities – this is a 5-minute city.”

Chicago-based Humphreys & Partners Architects, L.P. designed the building, and Chesterfield, Mo.-based Brinkmann Constructors will serve as general contractor.

About CRG:
CRG is a privately held real estate development firm that has developed more than 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, St. Louis, Southern California, Phoenix and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at www.realcrg.com.

About the AFL-CIO Building Investment Trust:
The AFL-CIO Building Investment Trust (the “BIT”) is an open-end commingled core equity fund with approximately $7 billion in Gross Asset Value as of September 30, 2021. The BIT was formed in 1988, and since 2010 the BIT has invested over $2.2 billion for the development of multifamily, commercial, and mixed-use properties across the country. The BIT is managed by PNC Bank, National Association, as Trustee; and PNC Realty Investors, Inc. provides sole investment advisory services. The AFL-CIO Investment Trust Corporation provides marketing, investor relations, and labor relations to the BIT. https://aflcio-bit.com/

 

CRG is set to begin construction next month on Chapter at the Streets, a 245-unit multifamily development located at 333 Mulholland Drive in the Streets of St. Charles mixed-use district, 25 miles northwest of St. Louis.