Once known as the Superman Building, the Continental Building, located at 3615 Olive Street, will be flying high once again as plans are being made for its renovation.

Saint Louis University President Lawrence Biondi, S.J., U.S. Senator Jean Carnahan and St. Louis Mayor Francis G. Slay were all present at the official ground breaking for the $28-million-dollar renovation that took place June 18.

SLU provided developer Steven Trampe with a $1.5 million loan when the project’s financing was at risk.

The Continental Building, constructed in 1930, was once considered the finest high-rise building in St. Louis. Legends even say that the skyscraper was the one used in the “Superman” television series. However, by the mid-1970s the building was vacant and considered an eyesore.

Plans for the renovation include creating 106 apartments, a restaurant and a parking garage. While the parking garage is expected to open next spring, the apartments will not be available until August of 2002.

Biondi said that the project is a sign of the rebirth that Midtown is experiencing. SLU is a part of many projects in the Grand Center area, including the recent purchase of the Marina and Feathers buildings at the entrance to Grand Center. SLU plans to turn these buildings into housing, restaurant and business opportunities, in an effort to bring life to Midtown.