Olivette City manager says Olive Crossing tenants moving forward; financing, openings expected in 2025

City Manager Miss Shaklee told the Olivette City Council on Oct. 8 that the Olive Crossing development is progressing, with the on-site hotel marking its first year in operation and reporting roughly 89% of units leased and about 83% occupied. “They are doing well, for being only open for a year,” she said.

Shaklee said the multi-tenant retail building on Lot 3 — where Paris Baguette is slated to locate — has two additional tenants with letters of interest and that appraisals required for financing have been completed. She said the developer expects to receive financing in December and plans to begin work in January, weather permitting, with the goal of having the building and tenants in place by next summer.

On Lots 1 and 2 Shaklee reported rapid progress on the Aldi site: the roof and exterior walls are up and the developer is moving to enclose the structure before winter so interior work can proceed, targeting an early-2025 opening. Lot 5 (a proposed office building) has no new update, and the Lot 6 hotel team met with an operator in mid-September and is proceeding toward financing, detailed design and operating agreements prior to returning to the city and the Planning and Community Design Commission.

Shaklee also reviewed upcoming city events, including a mayor’s coffee at 5 Oaks featuring horticulturalist Brian Azcona, a citywide yard sale with Parks & Rec registration, a shredding and electronics recycling event at Stacy Park on Oct. 21, a drug take-back and medical-equipment donation on Oct. 26 with St. Louis Help, a harvest festival at 5 Oaks, scheduled leaf collection beginning in November, and the Turkey Trot on Thanksgiving morning with more than 350 registrants.

Next steps: developers will pursue financing and return to city bodies as required; the council will receive further updates as the projects progress.