HUD Secretary touts Opportunity Zones in St. Louis

Carson toured the North Sarah Apartments in the Vandeventer neighborhood, a mixed-income housing project developed by McCormack Baron Salazar. He was joined by Missouri Gov. Mike Parson, St. Louis Mayor Lyda Krewson, U.S. Rep. William Lacy Clay and Missouri state Sen. Brian Williams.

Carson also toured the City Foundry in Midtown, a $210 million redevelopment of the former Federal Mogul foundry site. St. Louis Development Corp. Director Otis Williams said City Foundry developer Steve Smith of the Lawrence Group had raised several million dollars in an Opportunity Zone fund to help finance the project.

Other projects in the Midtown area have also announced Opportunity Zone investments recently. This week, Midas Hospitality announced it had raised $35 million in an Opportunity Zone fund from St. Louis investors to help finance two hotel projects it is building: a 129-room Aloft Hotel in the Cortex tech district and a 152-room Element hotel on Forest Park Parkway across from City Foundry.


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