ST. LOUIS — Two historic Midtown buildings owned by Saint Louis University that were in danger of demolition last month has been purchased instead by an arts foundation, with plans to redevelop the sites.
The Kranzberg Arts Foundation closed on a purchase Jan. 26 of two long-vacant buildings originally constructed in 1887, at 3221-3223 and 3225 Olive St., with a plan to save them from property owner SLU’s previously scheduled demolition, according to a news release. The arts foundation and university do not want to share financial details of the arrangement, a spokeswoman said. Public records of the sale were not yet available.
Specifics of the redevelopment will be announced later, the spokeswoman said. The undisclosed project is a “creative solution” that will “restore them to dynamic new spaces that support KAF’s mission of providing essential infrastructure for the arts to thrive in St. Louis,” the foundation said in the release.
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