University’s latest acquisitions augment real estate holdings

Saint Louis University announced plans to destroy the Pevely Dairy complex, located on Chouteau Avenue and Grand Boulevard, and build a new facily for SLUCare, the University’s physician practice.

In his 2011 August message to the SLU community, University President Lawrence Biondi, S.J., announced the purchase of the Pevely Dairy complex. At the time, the University’s intentions for the St. Louis landmark remained unclear.

According to a University press release, the project is a continuation of SLU’s effort to improve the area surrounding the SLU campuses, which includes construction of the $82 million Doisy Research Center and the addition of an education union on the Health Sciences Campus. The University “expects to invest millions of dollars” into the property, which is located across from the DRC. A specific amount was not given.

The Pevely complex had been a part of the St. Louis community since 1919. In 2008, the building closed its doors permanently due to downsizing, leaving hundreds out of work.

SLU purchased the three buildings that comprise the Pevely complex from Bruce Development and business partner Rick Yackey. The group originally intended to use the space for rental lofts.

Bruce Development also owns the University Heights loft apartments on Laclede Boulevard, located across from SLU’s campus.

According to the press release, SLU’s investment in the building is essential not only for the University, but also the St. Louis community. SLUCare generates more than $250 million in revenue annually and employs more than 550 physicians. The press release stated that SLUCare has outgrown the current Midtown facility, which serves nearly 500,000 patients every year, and that the purchase of the Pevely complex will benefit the health care provider.

Despite SLU boasting its highest population total in history, the building will not be used for student housing, as many members of the University community had ideally suggested.

“I am not aware of any plans to expand student housing at this time,” Kent Porterfield, vice president of student development, said.

Sophomore Tavon Wilson said that he thinks the University needs more housing options, but made the right move by not choosing the Pevely complex.

“I wish there was more housing selections, but I don’t think the Pevely building would be the best place for it,” Wilson said.

Sophomore physical therapy student Mark Ladd said he thinks that using the Pevely complex as housing would aid students who have the majority of their classes on the Health Sciences Campus.

“I think that the Pevely building would have been a great opportunity for student housing,” Ladd said. “This could have benefitted the students that have to shuttle or carpool every day to get to the medical campus.”

Although the purchase of SLUCare may not directly benefit student residency, the new SLUCare facility may have beneficial effects on the community as a whole.

“A new doctor’s office is critical to meeting the needs of our physicians, our medical students and residents, and, most importantly, our patients,” the University said.  “SLUCare strives to provide the best patient-centered care in the region, and a first-class facility with enhanced resources will provide the space we need to match the quality of that care.”