CWE committee backs apartment tower

A developer's price of replacing a midcentury modern office building with an apartment tower might include the absence of taxpayer incentives for the Central West End project.

That's the trade off recommended today by the Central West End Development Committee, which is part of Park Central Development, the area's development corporation.

Covington Realty Partners, of Clayton, is proposing a $50 million, 14-story luxury apartment building at 4490 Lindell Boulevard. That's the site of the Optimist International headquarters, comprised of two structures, one built in 1961 with an addition completed in 1979.

Officials have said the Optimists are looking to relocate their 30 headquarters employees to a smaller building in the neighborhood.

Regardless, the Optimists building has it fans.

As a result, the development committee voted today not to support tax abatement or other public incentives for Covington's project, which, of course, includes demolition of the Optimists building.

According to Covington's plan, the new tower of brick, stone and stucco would have 220 apartments. Resident parking is planned on the first two levels or below grade. Plans for an outdoor deck include a pool.

Covington hopes to acquire the Optimist International site and begin construction in January. Construction would take 22 months.

In addition to squelching the notion of public incentives, the development committee's other recommendations include:

Getting a city building permit for the apartment building before obtaining a demo permit for the Optimists building.

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CWE committee backs apartment tower