Dominium acquires St. Louis building and announces plans to develop Leather Trades Artist Lofts

Minneapolis Feb. 8, 2011 — Dominium Development and Acquisition, LLC, is pleased to announce the acquisition of an eight-story building in downtown St. Louis, MO. that will soon be home to Leather Trades Artist Lofts, an 86-unit apartment complex catering to artists.

Originally built in 1908, the historic property at 1604 Locust St. will undergo renovations to both the interior and exterior of the building and will be designed to provide fully-functional affordable live-work space to residents that meet affordable housing guidelines. The property is currently vacant and essentially gutted down to the columns, so the rehab encompasses a very large scope of work. These improvements will be completed by September 2011.

“This acquisition and rehabilitation project gives Dominium the chance to make use of an empty historical property and put it to great use,” said Armand Brachman, Managing Partner, Dominium Development and Acquisition. “Combining the history of this century-old property with modern amenities will definitely be a win for our expanding Missouri portfolio, but more importantly for the residents of St. Louis.”

Leather Trades Artist Lofts will include a painting studio, artist studio, clay studio with kiln, sound studio and dance studio to accommodate the creative community it houses.