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Cullinan Promises $385M Project Finally on Track

ST. CHARLES, MO-Construction of the first 100,000-sdquare-foot retail/office building should be complete by spring, the Peoria, IL-based firm says.

By Robert Carr | Updated on October 12, 2011

ST. CHARLES, MO-Cullinan Properties confirmed Wednesday that it has pre-leased about 70% of a 100,000-square-foot, retail-office building, the first phase of the $385 million Streets of St. Charles. Construction should be complete in the second quarter 2012 on the project, which has been held up for years because of the economic downturn.

The 26-acre project at Interstate 70 and South Fifth Street had already been on hold for a couple of years when it received a $40 million pledge of Neighborhood Improvement Bonds from the City Council in January 2010, to allow infrastructure work to start. Cullinan said back then that it would start construction and have the project, with about 400,000 square feet of retail and office and 540 residential units, completed this year.

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