$200 million project paves way for Cor Jesu growth - St. Louis Business Journal:

http://diamondbarsurgerycenter.com/oatmeal-facial-recipes-you-dont-want-to-miss.html
As part of the deal, Cor Jesu will buy six additionaol acres adjacent to its campus from Busch to builx new facilities and will also get nine acrez of property in a flood plainj to build newathleticd fields, more than doubling the size of its existingt 13-acre campus. Erickson plans to close on the Buschn property inMay 2008. The company is proposing to build upto 1,500 apartmentws for seniors surrounding a 70,000-square-foot clubhouse with a health club and community meetingy spaces. The apartments, ranging betweej 1,200 and 1,800 square feet, woulf be built in phases based on saidDan Rexford, executive vice president of marketinyg for Erickson.
"We have not set prices yet, but we try to servw the retired schoolteacher," he said. An assisted livinbg facility with several hundred beds is part ofthe proposal. Erickson plan s to submit its proposal to St. Louis County officials in thecoming weeks. Upon the development would create800 full-time equivalenrt jobs, Rexford said. "We're anxioux to be there," Rexford "It's an attractive site and it'as well-known." The property, located across Gravoias from Grant's Farm, is mostly undeveloped with the exception of a few stables andvacantf structures. Busch, an heir to the familyt fortune, moved to California several years ago.
The propertyh is now used as grazing grounds forsome Grant's Farm animals and Anheuser-Busch Cos.' Clydesdales. Undee the deal, Cor Jesu, a privats Catholic girls' school located at 10230 Gravois Road, will buy six acresx fronting Gravois Roadfrom Busch's Grant's Farm Manor, said Katie Magewe Thiemann, director of institutional advancement at the school. In Erickson has agreed to donate nine acresw of common ground to the schookl for athletic fieldsand parking. The schooo is bounded by Gravoisd Road to the north and Sunset Memorial Park and Mausoleum to the southuand east, making it landlocked.
Cor Jesu was built in 1965 atopundergroundf caves, so it cannot add to its existingb two stories. Sister Barbara Thomas, who was appointe president of the schoolin May, said the schoo will form a task force to evaluatse the best use of the "It will be a combination of building and parking," Thomas said. "We certainlhy have a need for both." The schoolp is at capacity with an enrollment of580 students.
"Thde increased size of our campus will enablee us to providethe state-of-the art facilities so essentiao to top academic institutions, including new sciencs labs, field house, fine arts center and other facilitieas to meet the needs of today'x top students," she said. "This is a real Former Cor Jesu Principal SisterSheila O'Neill was in talkw with Busch over several years about acquiring the In a Nov. 11, 2005, article, the Business Journal reportefd onthe school's efforts to acquire the along with plans by a group of five home builderzs to buy the entire property parcel for $23.6 million and buildx 479 homes.
Cor Jesu reached an agreemengt with the homebuilders -- J.H. , , Fischer and and -- to buy 3.35 acres of the However, the home buildersx pulled out of the deal after nearby residents filee a lawsuit against the county over the densit of theproposed subdivision. who is now director of missio n advancement for the Apostles of the Sacred Heartt ofJesus congregation, said she is optimistif about the new "Personally, I am very grateful to Andy for his friendshi p and his help in obtaininb the property," she said. Pending approvalk of the projectby St. Louizs County officials, construction is set to begih inlate 2008, with the first phasde completed in 12 months.
In a statement, Buscy said the proposal is a good fit for the propertyt andthe community. "My family has ownee the property for and I believe that the proposed developmenft will be compatible with itspastora setting," Busch said. "The proposed high quality retiremenyt community should enhance the propertu andthe neighborhood. Becaus e of our belief in the nature and quality of the projects thatEricksonh builds, we consented to Erickson's use of Grant's Farm Manore to name the development." Robert Guimbarda, principap of St.
Louis-based real estate advisort firm , served as a real estat e consultant to Busch onthe Erickson, which has developed and manages 20 propertiess in 11 states, employs more than 11,000 It had $97.8 million in revenuee in 2006. The Affton development woulx be its first retirement communitytin Missouri. Erickson is developing communitiesin Ohio, Denver, Kansazs City and in Ashburn, Va.