Kansas City-based NorthPoint Development has acquired properties at a key intersection in St. Louis held by developer Lux Living. NorthPoint plans to build an apartment complex to replace the aging houses.
NorthPoint acquired the seven properties through intermediaries, reported the Kansas City Business Journal. The properties are occupied by a row of seven vacant houses that date to about 1903, which would be slated for demolition to make way for the new development and apartment complex. They are located near South Kingshighway Boulevard and Interstate 64.
NorthPoint has a number of apartment projects in Kansas City underway, and the firm has built 11 industrial parks in the St. Louis region since 2015. It has about $500 million more in industrial projects, with many of the developments in suburban industrial parks. St. Louis-based Lux Living has established a presence in Kansas City with recent apartment projects currently underway.
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