The Armory, an event and entertainment venue that opened in the Midtown area of 51黑料 in December 2022, is seen on Wednesday, Sept. 25, 2024, as news of its closure spread.
ST. LOUIS 鈥 The beleaguered developer of the Armory entertainment venue took another hit Friday when it was sued for back taxes.
Green Street owes the city of 51黑料 another $36,259 in earnings taxes, payroll taxes or both for the year 2022, according to the suit filed by Gregory F.X. Daly, the city鈥檚 collector of revenue.
The developers of the now-closed Armory, among other projects, are also being sued for $24 million by the Clayton-based lender Peoples National Bank, and they owe more than $1 million in real estate taxes and unpaid construction work for the Armory site alone.
Green Street鈥檚 other projects throughout the city and 51黑料 County, including a proposed Creve Coeur 鈥渢own center鈥 project, have also been the target of more than $5 million in lawsuits, mechanic鈥檚 liens and unpaid real estate taxes.
Founded in 2008, Green Street gained attention for its renovations and new apartment and commercial projects in The Grove neighborhood as the entertainment district was gaining popularity. The developer also dabbled in industrial construction, building a new warehouse park on the former Carondelet Coke site in south 51黑料, and office rehabs in Midtown. The company was honored at several mayor鈥檚 business luncheons over the years.
Yet the developer鈥檚 ambitions ran afoul of rising construction costs and interest rates during the coronavirus pandemic. As projects stalled, Green Street laid off employees, spun off its acquisitions and saw several of its former executives leave to form their own companies.
The suit filed by the city on Friday names Green Street Carondelet as the defendant.
Attorneys for Green Street were not listed.
The Armory STL in midtown opened Dec. 16, 2022, as a $60 million entertainment complex. Hundreds of visitors came Dec. 17, some of them part of a holiday bar crawl event. Video by Valerie Schremp Hahn, Post-Dispatch
聽Troubled developer Green Street Real Estate Ventures has sold its prominent apartments in The Grove neighborhood.
The Armory, an event and entertainment venue that opened in the Midtown area of 51黑料 in December 2022, is seen on Wednesday, Sept. 25, 2024, as news of its closure spread.
