Corner site supplements University’s real estate acquisitions
Saint Louis University recently acquired the former Pevely Dairy building, located on Grand Boulevard and Chouteau Avenue, giving the University greater influence over a major intersection.
University President Lawrence Biondi, S.J., confirmed the purchase through his August message to the SLU community.
“We now control three of the four corners of this key intersection,” Biondi said in the message.
However, Biondi said that no plans have been made about the future of the site.
“Although we have not yet determined uses for the properties, it was logical to take advantage of opportunities that made it financially feasible for us to secure these key sites near the Medical center,” Biondi said.
The site is located near the Health Sciences Campus, across the street from the Doisy Research Center.
The location could play a key role in the University’s growth, and some members of the SLU community are eager to see what purpose the building will have.
“I would like to see housing there so it’s closer to classes,” Brianne Keller, a senior physical therapy student, said.
An additional dorm could help to extend the presence of students on the Health Sciences Campus, and could revitalize the community.
Claire Mclnerney, a senior Personal Training major, said,
“It could be nice to be able to have the Salus Center just be the [Water Tower Inn], rather than classes over there by building another academic building. If the departments there could become more centralized, it would decrease travel time between classes for students in the future.”
Developer Rick Yackey and four partners acquired the 10 acre former Pevely Dairy building for $2.2 million in April of 2010. The property was purchased approximately a year after a fire nearly destroyed the historic site. Bruce Development and Yackey had originally planned to convert the building to support both residential and commercial units.
The idea to create residential properties was initially praised by many, according to the St. Louis Business Journal, for its proximity to both SLU campuses. The project did not go as planned, and SLU acquired the property.
The Pevely Dairy building was built in 1919, and served as the company’s
headquarters in the 1940’s. However, Pevely Dairy’s history in St. Louis dates back even further to the 1880s. Pevely eventually grew popular after their role in the 1904 World’s Fair as the supplier of dairy products. Pevely’s debut at the World’s Fair eventually led the brand to become a household name.
However, the family-owned and operated company merged with Prairie Farms, then a fast growing company. The merger initially increased revenue for Pevely Dairy and boosted market share for many years.
When the recession began in 2008, Prairie Farms decided to consolidate factories in St. Louis and Hazelwood. The consolidation left hundreds out of work, and ultimately closed the building permanently.
According to KSDK, the closing of Pevely Dairy was unexpected by several employees, who were told at 3 p.m. on a Friday that it would be their last day working with the company.
“We feel like we have been mislead by the unions and the company,” one former employee said, according to KSDK.
The economic impacts were immediately felt when the building closed its doors. One year after the factory was closed down, a fire ravaged the site and led to the destruction of one of the three buildings. The fire stalled the initial sale of the site until April of 2010, when Bruce Development and Yackey acquired the lot.
According to Biondi, the future purpose of the Pevely Dairy building for the University is still undecided.
