Owner store

Target store arrives in St. Louis

ST. LOUIS – During the week, Saint Louis University campus shuttles transport students around campus, stopping at classes and campus buildings. But on Saturdays, the only shuttle is for shopping.

Eight times a weekend, SLU’s commercial shuttle takes students in a 20-minute drive to the nearest shopping center on campus. One of its most popular stops is the Target at the Brentwood Promenade Mall. The bus also stops at Walmart and Whole Foods.

But starting in the summer of 2023, SLU students looking to shop in Midtown won’t need to take a shuttle to St. Louis County. Residents of Reinert Hall, a first-year dormitory, will be within a three-minute walk of a new 70,000-square-foot Target store.

Richmond Heights-based developer Pier Property Group announced in October that a target would anchor The Edwin, a new $ 60 million apartment and retail project it is developing alongside SLU along the Grand Boulevard between rue Gratiot and rue Papin. Construction began this month.

University officials said they had tried for nearly a decade to get Target to open a store in Midtown. Now, along with other local retail experts, they believe the Minneapolis-based retail giant could become the catalyst that will attract even more retail to city limits.

“We have dreamed of a target for a very long time,” said David Heimburger, CFO of SLU, who also chairs the board of directors of Midtown Redevelopment Corp. which manages the development on 400 acres around the campus, including the Edwin site. . “It is a real game-changer for our students and for Midtown. “

Target landing

Most of the big box stores within the city limits are clustered on the southern edges of the city, such as Lowe’s in Loughborough Commons near Interstate 55, which opened in 2007. Although new stores opened again in this development in 2019, until Loughborough and the 2015 opening of Ikea near Midtown were the last major big box retail locations built within the city limits.

University officials had been in talks with Target for a decade, but it was difficult to find space for a full-size store – which the retailer says averages around 130,000 square feet. Michael Hamburg, owner of Pier Property Group, said he had long heard “rumbles” that Target wanted a location in Midtown, so he “cold called” company representatives in February or March.

The prospect of landing at a new store in St. Louis had become more likely in recent years, when Target began opening smaller-format stores in urban centers and around colleges. These stores typically measure around 40,000 square feet, but can grow up to 12,000 square feet. In 2019, Target said it had more than two dozen small-format stores on or near college campuses.

Covering an area of ​​70,000 square feet, the new Midtown store will be located between the typical small and large format stores. But people involved in the case say Edwin’s location was attractive to Target because of how it offers some of the benefits of both formats.

Target was drawn to The Edwin for its proximity to the SLU campus, but also because, unlike other urban Target stores, it will also have room for traditional parking lots, said L3 Corp real estate broker Rick Spector. ., who represented Pier at the target transaction.

Click here for the full story.