Missouri Theater renovation begins, will feature a BB King’s Blues Club
Dec 9, 2014, 1:13pm CST UPDATED: Dec 9, 2014, 1:41pm CST
The Lawrence Group closed Monday on nearly $6 million in financing for its renovation of the Missouri Theater in Grand Center.
Remediation and some demolition work has begun, and should be completed in about five months, Steve Smith, Lawrence Group CEO, said in an interview.
Eagle Bank provided the financing. The entire first phase of the project will cost $29.3 million, Smith said. Eagle Bank is expected also to finance construction costs.
Smith said the first phase, including 108 apartments and 25,000 square feet of commercial space, should be completed by spring 2016.
A contractor has not yet been chosen.
BB King's Blues Club, which has locations in Memphis and Nashville, Tennessee, and Orlando, Florida, will open a venue and restaurant on the ground floor of the Missouri Theater, occupying about 12,000 square feet. Flying Cow Frozen Yogurt, now at 3331 Locust St., will move to another Missouri Theater commercial space. Lawrence Group officials are in discussions with other potential tenants.
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