Developers scale back luxury Shaw Park Apartments plan

Developers of the planned luxury Shaw Park Apartments are scaling back their original structure, according to the latest architectural plans filed with the city of Clayton.

Initial plans of the $70 million project included a 24-story, 264-unit high-rise that would also have a 373-space parking garage and 7,800 square feet of retail space on the ground floors.

Under the new plan, filed to the city Monday, the lot would be scaled back slightly to a proposed 22-story tower with 228 units and a 324-space parking garage.

The project will still have a rooftop pool and sky bar, included in the original plan, along with other amenities, including an outdoor courtyard with grilling stations, balcony views, yoga studios, a fitness center, bike repair and storage and a pet wash.

Flaherty & Collins Properties, an Indianapolis-based developer, is in charge of the building project, located northeast of the Forsyth and Brentwood intersection.

Officials with Flaherty didn’t immediately respond to a request for comment from The Clayton Times.

City of Clayton director of economic development Gary Carter said scaling back is usually a normal part of the process in any development project.

“They presented conceptually back in February and I think as they dive deeper into the process, cost and demand and financing all play a part in the shaping of a process as it comes to fruition,” Carter said. “I don’t think it’s anything ominous. I don’t think the housing market has dried up or anything like that.”

Clayton officials negotiated a $1.1 million sale with Flaherty to sell the city-owned parking lot at 8049 Forsyth to make way for the top-of-the-market luxury building at the corners of Brentwood and Forsyth.

The project will receive no tax incentives and is fully taxable, according to the plan.

Flaherty is still going through the entitlement process and will have its first public hearing Nov. 21, Carter said. Assuming all goes well, Carter expects construction to start on the Shaw Park Apartments sometime next year.

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