Green Street Real Estate Ventures (Green Street) and its affiliate companies celebrated as one on Wednesday with a day full of employee engagement and onboarding as they marked the official move into their new headquarters located at 4565 McRee Avenue, in The Grove neighborhood in the city of St. Louis.
The move combines six companies under one roof to include Green Street, Green Street Building Group (“GSBG”), Green Street Property Management, Emerald Capital Strategic Advisors (“Emerald Capital”), HDA and O’Toole Design Associates (“O’Toole”).
“We are excited about the synergy that is being created with having our 80-person team in one location,” said Kevin Morrell, Green Street principal. “This building is a showcase of each company’s individual talents and evidence of the outstanding development that we can deliver as a vertically integrated firm.”
GSBG broke ground on the 46,000 square feet building located near the intersection of McRee and Vandeventer Avenues in January 2021. The facility was designed by HDA with interiors by O’Toole. Despite a tumultuous year in the construction industry, the teams rallied to deliver a building that makes each employee excited about coming to work.
“From development and financing through design and construction, the entire Green Street team collectively created a real show place to display our talents,” said Paul Giacoletto, GSBG president. “It’s a real-life example of our tag line “make more possible”. When creative minds from across the life cycle of a project come together with a common goal, the impossible becomes possible.”
Green Street’s new headquarters is part of a $21 million mixed-used development that includes Bar K’s first St. Louis location. To date, the project brings approximately 200 new jobs to the city of St. Louis. Emerald Capital played a key role in securing financing for the project which included $18 million in New Market Tax Credits (“NMTC”), Opportunity Zone Equity and a $347,000 Project Clear Grant. Collective project financing is provided by Peoples National Bank, United Bank of Union, U.S. Bancorp Community Development Corporation and the Community Development Entities of St. Louis Development Corporation, MBS Urban Initiatives CDE (an affiliate of McCormack Baron Salazar) and RBC Community Development.
“This development is activating a former industrial warehouse to provide 200+ jobs, many that are accessible, and has already promoted further development on McRee with residential and additional retail plans in place. We couldn’t be more excited to work on this project as it is a perfect example of a catalytic development in a distressed area,” said Matt Drinen, Emerald Capital principal. “The Emerald Capital Team is thrilled to be operating out of the one of the most unique and creative office spaces in the US. The building is truly a north star for repurposing old and vacant industrial buildings into vibrant modern uses.”
The project is a testament to Green Street founder and CEO Phil Hulse’s long term commitment to the city of St. Louis, as well as to The Grove and Forest Park Southeast neighborhoods. “We don’t just build buildings, but rather strengthen communities,” said Hulse. “We are creating environments where people can come to live, work, eat, and play within these desired urban environments.”
About Green Street Real Estate Ventures
Green Street Real Estate Ventures is an entrepreneurial, full-service real estate solutions provider. Green Street distinguishes itself through the application of sustainable design and building principles in the adaptive reuse of infill locations. With over 5 million square feet of development experience, Green Street utilizes its established experience to complete innovative real estate projects as an advisor, a developer, a builder and as a property owner. #makemorepossible. To learn more, visit www.greenstreetstl.com.
About Green Street Building Group
Green Street Building Group was created in 2019 to increase Green Street St. Louis’ portfolio and support the needs of the region with the creation of new mixed-use and multifamily options. Led by Paul Giacoletto, an industry expert in construction and project management, Green Street Building Group is a mix of young professionals and industry veterans. The team finished construction on their first project, Hue (www.huestl.com), in December 2020 and have several projects in the pipeline that include a blend of multi-family and hospitality. To learn more, visit www.greenstreetstl.com. #makemorepossible.
About Emerald Capital
Emerald Capital is a third-party affiliate of Green Street Real Estate Ventures specializing in community development, incentive, and real estate consulting. The team behind Emerald Capital believes that there is a lack of access to Federal and State Incentives and atypical financing for smaller businesses, nonprofits, and developers without a dedicated/sophisticated finance team. Emerald Capital believes that Federal/State Incentives and unconventional forms of financing should be available for all organizations, regardless of their financial back-office capabilities. #connectingcapital
To learn more visit, www.emeraldcapitalstl.com
“It Starts With A Vision” remains more than just a motto to HDA; it is how the company truly began and has continued to grow. Over their 30 plus year-old history, they’ve expanded their business from traditional office buildings into varied market segments to include beverage wholesaler, interiors, industrial / distribution, power retail centers, auto dealerships, multi-family, mixed-use and craft brewery market sectors. Through their journey, the HDA staff has designed over 100 million square feet of projects in 44 states at a construction value of over $3 billion. #itstartswithavision. To learn more, visit www.hdai.com.
About O’Toole Design Associates
O’Toole Design Associates is an experienced team of interior design professionals which offers an expansive scope of design services including programming and space planning, interior design, furniture selection and specification, development of graphics that reflect the “brand” and vision of the organization, and project management. Led by President Michelle O’Toole, LEED AP, the firm has been in operation since 1994. To learn more, visit www.otooledesign.com. #wemakespacework