Midwest BankCentre Teams with CF. Vatterott to Launch $6.6 Million Terry Park Place In the Gate District of St. Louis

ST. LOUIS – Midwest BankCentre (MBC) is joining CF Vatterott Construction Co. in the final phase of a revitalization of the Gate District in St. Louis with the launch of the 25-home enclave Terry Park Place.  MBC is financing the $6.6 million development located in the area of Compton and Eads avenues, just east of Saint Louis University Hospital.  

“Midwest BankCentre is proud to partner again with CF Vatterott Construction on this exciting new concept in urban living that  promotes all the benefits the city of St. Louis has to offer," commented Midwest BankCentre President and CEO Jim Watson. “We continue to look for opportunities to help invigorate neighborhoods in our urban core.” 

A groundbreaking for the final phase was held on Oct. 7, 2013.  CF Vatterott says the first home will be completed January of next year and anticipates the entire community of homes to be finished within two years.  

“We’re grateful for the investment that Midwest BankCentre is making in our community and hope that it will serve as a catalyst for more,” said 19th Ward Alderwoman Marlene Davis.   “Like all communities, development in the Gate District was impacted by the Great Recession, but this signals a growing confidence in its potential.  The 19th ward was one of four in the city that grew in population in the 2010 census.  Life in the Gate District is energized by great urban amenities such as employment centers, healthcare, education and entertainment.”   

Presenting an array of ranch, one and one-half story and two-story plans priced from $180’s, the community is located just east of Saint Louis University Hospital near the intersection of Compton and Eads avenues.

According to Greg Vatterott. Jr., director of construction and chief financial officer for the homebuilder, five sites at Terry Park Place are already under contract.  The average value of those contracts is $280,000. “The development represents urban living at its finest,” he stated.  “The setting is beautiful, with homes clustered around Terry Park and additional green space separating the neighborhood from the Saint Louis University Hospital campus.  It is also conveniently close to major downtown employers and cultural and entertainment venues as well as Interstate 44 and Highway 40/Interstate 64.”

The homes have three- to five-bedrooms and present from 1,456 to 2,832 square feet of well-appointed living area.

               Terry Park Place is the third major new home community developed in the Gate District by CF. Vatterott, a company founded in 1919 and headquartered in St. Ann, Mo.  Previously, it completed Buder Place and St. Vincent Park, communities totaling 200 new homes.

The Gate District lies immediately north of Interstate 44 and is bounded on the north by Chouteau Avenue, the east by Jefferson Avenue, the west by Grand Boulevard and the south by Lafayette Avenue.

               A display home for Terry Park Place is now open for viewing at 3832 Blow St, in Vatterott’s Boulevard Heights development in South City.  For more information, visit www.vatterotthomes.com

Midwest BankCentre (www.midwestbankcentre.com) provides integrated financial services with an expertise in commercial and retail banking, including checking and savings accounts, business cash management and mortgage lending. As a community bank, Midwest BankCentre makes decisions on a local level and clients have full access to the executive team. Since 2001, it has consistently achieved the Bauer Financial 5-Star Superior financial rating, the highest ranking for strength and stability awarded by Bauer Financial.