The Armory property, long targeted for redevelopment by Green Street St. Louis, is the large brown structure to the right of Interstate 64 (Highway 40) as seen on Tuesday, June 5, 2018.Â
ST. LOUIS — Developer Green Street St. Louis on Thursday settled a lawsuit brought by an investor in its Armory project.
The settlement with Lazlo MM Investments, LLC and James K. Moyle comes days after Green Street sold a majority stake of the Armory to Minnesota developer and investor Curtis Fisher. Green Street and Fisher say the Clayton-based developer will still be leading redevelopment efforts at the historic structure eyed for new office space near the Cortex tech district.Â
In the May lawsuit, Moyle alleged Green Street had reneged on an agreement to buy out its $2.3 million stake in the project and that he had found a buyer but that Green Street CEO Phil Hulse had stated “they had no interest whatsoever in parting with the underlying project at any price.â€
Fisher said in an interview that he was "confident this project will succeed" and "excited to be a part of it." He said Green Street's record in the area plus the recent activity in the Central Corridor and nearby projects such as City Foundry made him bullish on the Armory's prospects.
The closure marks the latest hit to its struggling developer, Green Street St. Louis
The Armory property, long targeted for redevelopment by Green Street St. Louis, is the large brown structure to the right of Interstate 64 (Highway 40) as seen on Tuesday, June 5, 2018.Â
