For Saint Louis University students who may opt out of next year’s housing system, there is now another alternative to living on campus, adding to the growing list of off-campus opportunities.

Coronado Place, formerly the Coronado Hotel, offers 66 two- and three-bedroom apartments in the first phase of development, which will be finished by early August. The building is located at 3701 Lindell Boulevard, directly across from the School of Law.

Built in 1925, the hotel, which is on the National Register of Historic Buildings, provided a stage for performers such as Duke Ellington, and housed guests such as Queen Marie of Romania and Charles Lindbergh. Local legend says that Franklin D. Roosevelt also occupied the hotel.

After being vacant for more than 16 years, the Coronado, along with Lindell Towers, was sold to Amrit and Amy Gill for $4.2 million in February 2001.

The restoration and renovation of the 300,000-square foot building will cost the Gills a total of $27

million and will take place in two phases.

The first phase, which opens in August, will include the 66 apartments as well as one, possibly two, restaurants on the terrace level, said Property Manager Kathy Bresnahan.

However, since “the ink is not dry on the contracts,” Bresnahan was not able to name the likely establishments. She did say that since the first phase will be almost all student occupants, the restaurants will be ones that are affordable and convenient for the students and SLU.

The two-bedroom apartments start at $1,275 a month for one bath and $1,475 a month for two baths. The maximum number of occupants for the two-bedroom apartments is three people. The starting rate for three-bedroom apartments is $1,800 a month, with a maximum of four occupants. Lofts, more appropriate for SLU faculty and staff, will be available for $2,500 a month.

If four people rented a three-bedroom apartment, each would pay $450 a month, for a total of $5,400 for 12 months, a price lower than any apartment in the Village Apartments. Plus, on-campus apartment rates are for only nine months as opposed to the 12-month lease for Coronado Place.

All apartments and rates include open floor plans, hardwood maple floors, large closets, electronic keycard entry, full kitchen including dishwasher and garbage disposal, parking, central air conditioning and individually controlled heat, all utilities, cable and Internet service and local telephone service.

There is also 24-hour security, 24-hour maintenance, on-site professional staff, laundry facilities and access to SLU’s Department of Public Safety.

The second floor of the building will consist of handicap-accessible apartments, which meet the American Disabilities Association’s regulations.

The second phase of the construction plan includes efficiency and one-bedroom apartments, which should be available between April and June 2003, as well as other commercial spaces, possibly a coffeehouse. When the second phase is completed, there will be a total of 196 apartments available to the Midtown community, Bresnahan said.

The Coronado will offer a different standard of living, Bresnahan said. The rents will be higher than the company’s other properties, but there will be no plumbing or heating problems, wireless Internet service may be available and the lofts include Jacuzzi tubs.

“As the management company, we’re in a position to offer many different living styles,” Bresnahan said. New Lindell Towers LLC manages Lindell Towers, Coronado Place, Vandeventer Apartments, and the recently purchased Carleton, which is located in the Central West End. “I think that, from my experience, every year more and more students seem to move off campus due to enrollment increases and other factors,” Bresnahan said.

However, could the increase in off-campus housing opportunities have a negative impact on the University? “I think it is a win-win situation. We offer safe, affordable housing and look after the students with a professional staff,” Bresnahan said. “I hope we have fulfilled a need SLU has.”

Applications and additional information, including floor plans, are available in the leasing office at Lindell Towers, located at 3745 Lindell Blvd., or online at the Web site, www.apartments-stlouis.com.