High-rise apartments planned for Clayton

A 26-story luxury apartment building planned for downtown Clayton is the latest foray into the market for modern high-rise living in the St. Louis area.

Jerry Crylen a developer behind the $75 million Clayton project, called The Crossing said construction of the 250-unit building should begin this fall.

The Crossing is among at least six new apartment towers on developers drawing boards from Clayton to downtown St. Louis.

It seems like everyone now is interested in high-rise development, said Bradd Beggs, a principal of Development Strategies, a real estate consulting firm in St. Louis. At this point, its a pretty underserved market.

How many such towers get built is undetermined. Also murky is whether a sudden sprouting of several high-end apartment high-rises would exceed the demand for such residences.

Beggs said Clayton appears ready now for more high-rise living. The success of Clayton on the Park, a 206-unit building, established a market there for pricey rentals, he said.

Creve Coeur-based Koman Group opened the 24-story project on Bonhomme Avenue in 2012 after converting the former hotel and senior residence into high-end apartments.

It leased pretty quickly, Beggs said. It has since increased rents and it showed that a Clayton market is there.

Clayton on the Park rents begin at more than $1,000 for a studio and top $4,000 a month for three-bedroom units.

Crylen said the Crossing will have a rooftop swimming pool, a fitness center and ground-floor retail space. The glass-and-aluminum design by HDA Architects has four parking levels and 20 floors of apartments.

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High-rise apartments planned for Clayton