Category: Press Release

Green Street’s Phil Hulse Becomes a Member of the Counselors of Real Estate

Green Street Founder Phil Hulse has been made a member of the Counselors of Real Estate, the country’s premier real estate advisory group.

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Groundbreaking Ceremony held at River City Business Park


November 10, 2015

FOR IMMEDIATE RELEASE

Media Contact:  Liz Austin, 314-726-2500, liz@greenstreetstl.com

Groundbreaking Ceremony held at River City Business Park
ST. LOUIS – Green Street St. Louis held a groundbreaking ceremony Tuesday, November 10 for the construction of Building I at River City Business Park located at 230 Carondelet Commons Boulevard. The 125,000 SF building is the first of five (5) buildings planned for the new 725,000 SF business park located north of River City Casino along South Broadway.

The more than 40 attendees heard comments from Green Street Managing Principal Phil Hulse, City of St. Louis Mayor Francis Slay, and St. Louis 11th Ward Alderman Thomas Villa.

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Phase 1 of River City Business Park will cost approximately $14 M and is designed for as many as four tenants but could be configured for a single occupant as needed.  The building and location is ideal for light industrial, manufacturing and flex/office space.  The building was designed by M+H Architects and is being built by Green Street Construction.

“Our focus at River City Business Park is to create state of the art real estate solutions for companies to grow their business,” said Phil Hulse.

The project received a $6 million New Market Tax Credit allocation through Central Bank of Kansas City with US Bank CDC serving as the tax credit equity investor.  Protective Life Insurance is the overall project financial partner with Midland States Bank and the Carpenter’s District Council providing construction and infrastructure financing.  The Carpenter’s District Council provided interim financing. 

River City Business Park is the $70 million redevelopment of the former Carondelet Coke site located next to River Des Peres.  Now a fully remediated Brownfield site, the 54-acre business park will offer new sustainable, suburban-like amenities in an excellent, urban location.  One of the largest pieces of vacant ground located within the City of St. Louis, it has been a top priority for the city for some time.

“The significant public and private investment means that this old eyesore can soon become a business park that will again generate jobs and commerce for the City of St. Louis,” Mayor Francis G. Slay said.

Green Street expects completion of Building I in January 2016.

For more information on River City Business Park or Green Street St. Louis, please visit www.greenstreetstl.com or call (314) 726-2500.

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About Green Street St. Louis

Green Street St. Louis is a commercial real estate development company delivering more than traditional real estate by ensuring that its projects maximize value for its entrepreneurial-minded clients: aligning with their culture and making them a better company. Green Street believes each building it develops is an opportunity for its clients to truly distinguish themselves and transform their business. Green Street’s satisfaction comes from applying its innovative real estate approach to provide business solutions making its clients more successful and the neighboring communities flourish.

Liz Austin

VP of Marketing

Green Street St. Louis

314-726-2500

liz@greenstreetstl.com

www.greenstreestl.com

Green Street receives the 2013 USGBC MO Gateway Chapter Award For Restoration

Green Street was the proud recipient of the Award for Restoration at this year’s Growing Green Awards. Green Street was honored to recieve the award and will continue to strive to make more positive impacts in green building and development. 

Green Street is proud to be recognized along with the following Green Community champions!

Awards were presented at the 6th Annual Growing Green Awards on March 27 to:

  • Emerging Leader: Maryville University’s USGBC Student Group
  • Education: MICDS
  • Operational Excellence: St. Louis Zoo
  • Restoration: Green Street St. Louis
  • Innovation: Gary Steps, Butterfly Energy Works
  • Community Champion: Deb Frank, Missouri Botanical Garden

 

Phil Hulse, (Re)Building a better community

Author: Julie Murphy
Article as published in the St. Louis Business Journal, January 24, 2014. 

Phil Hulse
, founder and managing principal of Clayton-based Green Street Development Group, is known for his perseverance.

“Phil always finds a way to get things done, whether that’s on construction or in an interaction with the client,” said Brian Pratt, vice president of business development for Green Street.

Otis Williams, executive director of the St. Louis Development Corp., echoed Pratt’s take on Hulse. “Phil’s the kind of guy who sees something that he wants to get done, and he will stay the course and get it accomplished.”

Hulse, with his staff of eight, has spent the last seven years, for example, advancing a plan to redevelop the site of the former Carondelet Coke plant into a business park, 54 acres that will accommodate up to 700,000 square feet of new buildings in south city. Green Street will likely begin construction of the first building there in the second quarter of this year, Hulse said.

Hulse formed Green Street in 2008, with the plan of carving out a niche in commercial real estate – namely by redeveloping urban properties in St. Louis, transforming the bones of vacant buildings and polluted or contaminated “Brownfield” sites, into something “pretty spectacular,” as Hulse says, including “green” or sustainable elements.

Since 2009, Hulse’s firm has executed some $90 million in redevelopment projects, and it has approximately $100 million more in the pipeline, he said.

Hulse was born in St. Louis, but grew up in several cities across the country, depending on where his father’s work took the family. After graduating from theUniversity of Denver in 1971, Hulse worked for Hartford National Bank, in Connecticut. In 1974, he returned to St. Louis, where his brothers and father were living then. Hulse struck out on his own, running a couple of businesses, then changed course again. “I just did a 180, got my broker’s license, and started as a broker for Hilliker Corp.,” Hulse said.

In 1998, he helped form Summit Development Group, where he worked until the end of 2007, when he turned his attention to establishing Green Street.

At 64, Hulse has three sons from his first marriage. Following in their father’s footsteps, Peder and Chris work as local brokers and developers in town and have worked on and off with Hulse over the past decade. Hulse’s other son, John, is the director of business development for locally based StraightUp Solar.

Hulse lives in Ladue with his wife, Janice Rohan, owner of Park Avenue Design, and their daughter, Irina, 16, whom they adopted from Ukraine when she was two.

Early on, after working in banking, what businesses did you own?

I owned a construction company (Hulse Construction), a privately held company that did work here. I did that for about seven or eight years. We did mostl
y commercial installations for businesses. We were a private contractor for Southwestern Bell and Continental Telephone. After that, during the late ‘70s, early ‘80s, I had a fireplace and patio shop called Rockwood Stoves. Then in 1985, I transitioned into being a real estate broker.

You have a reputation for being very tenacious in your work.

I was always ambitious and interested in learning. I always wanted to connect with people who were smart and talented because you learn from them. If I was in a crowd, in high school or college, I would associate with people who were doing well, both academically and socially, because they were great role models. Then as I learned real estate, I picked mentors who were guiding forces, and then put my own spin on it. And you can have great talent, but unless you’re tenacious – there are a lot of road blocks sometimes to getting something accomplished, so our (Green Street’s) success has a lot to do with never giving up and sticking with the user (client). Sometimes it doesn’t happen the first time – sometimes it takes years to get a project off the ground. And if something negative happens, you have to always look at the bright side. Being in this business is very tough, and there’s a tremendous amount of risk to it, so you’ve really got to be light on your feet, smart and always push toward the finish line.

What else has allowed you to succeed?

It’s a combination of factors. We have a lot of experience in just developing, so we know how to dance through the woods when it’s not so pleasant. My focus has always been on the user market. How do I represent somebody, getting them to where they need to be with the real estate side of their business? You know, speculators will develop and build something without having the tenant or user, so having a user really defines the project. They help guide the ship to a good landing, with a good project because, without it, it’s hard to drive the financing, the equity or the vision. And then we’ve always had good partners that we collaborate with. Financially, there’s a lot to do, on this scale, in development, so you’ve got to have good partners who can weather the ups and downs. Whether it’s an architect, engineer, contractor — we work as a team. We have lots of perspectives, and what we (Green Street) do is guide the overall ship.

How do you find “users” or tenants?

It’s generally me, having that brokerage background, sniffing around like hound a dog … and we typically buy things before we have the user. Then you’ve got to find the user that kind of sets the stage for what you’re going to do. You’ve got to create a “story” that works on multiple deals. And you’re congregating people that benefit from everybody else being around them; you’re creating synergies.

Describe a typical Green Street redevelopment project.

A good example would be when we did the Sheet Metal Workers’ (Local 36) project down on Chouteau and Jefferson. Here you have a union membership — a body that you have to somehow guide through a transaction and deliver a building. This kind of evolved from, yes, we need a new building for administrative offices; we need a union hall; we need a school, but how do we do this in a way that distinguishes us within the trades and within the construction industry itself? The approach that we ended up taking, which they (the union) have a big impact on, is sustainability, green development. They have a lot to do with solar installations, green roofs, heating and cooling that needs to be highly efficient — if you’re going to get points within the LEED certification system. So we ended up turning this project into an opportunity to exemplify who they are.

And it involved a lot of public incentives. Having a school that’s training people for the future allowed them to attract a big allocation of New Markets Tax Credits that we sold to help buy down the project. We used Brownfields tax credits to deal with some of the environmental (issues). We had a TIF that we put on the whole site to capture the tax revenues that were flowing through it. And we used energy tax credits. So, we used a lot of tools.

What are some of the specific sustainable or “green” elements that Green Street incorporates?

It really starts with the site you select, and because it’s existing buildings, we’re reusing, recycling, which is a better approach. And we typically put much more sophisticated heating and cooling and lighting systems in so they’re efficient and you’re saving money on the operational side. We use a lot of natural light. We’re sensitive to how the site impacts what comes onto it, in terms of storm water, and we can manage that with bioswales. We use renewable energy more and more. We install a lot of solar panels and geo-thermal (systems).

Do you live a “green” lifestyle at home?

I put geothermal in it. When we redeveloped it and took things out, we reused them in different places. For example, we had bay-window doors that had non-insulated windows, so we used those same doors for interior doors, instead of throwing them in a landfill. And that’s why we (Green Street) reutilize buildings, rather than do them from the ground up. If you can find a building, and it’s got good bones, it saves a lot of energy and materials, so you’re decreasing the overall (environmental) impact. And when we take out older units we’re constantly donating stuff to groups like Habitat for Humanity. It’s just the right thing to do.


Hulse the history buff

Latest reads:

“Team of Rivals: The Political Genius of Abraham Lincoln” by Doris Kearns Goodwin

“Washington: A Life” by Ron Chernow

“Franklin and Winston: An Intimate Portrait of an Epic Friendship” by Jon Meacham


Where you can find Phil Hulse

On his bicycle, cycling down Conway, Clayton or Ladue roads, toward Chesterfield.

Jazz at the Bistro. “We’re season ticket holders.”

Old Warson Country Club, playing golf.

phil@greenstreetstl.com

Construction underway at Urban Chestnut Brewing Company

As Published by the St. Louis Post Dispatch, Sept 6th, 2013
Author: Tim Bryant

David Wolfe sees past the blank walls of an old brick warehouse to a light-filled brewery that represents the rapid expansion of his Urban Chestnut Brewing Co.

Wolfe is co-founder of Urban Chestnut, the fast-growing craft brewer that is expanding to the 80,000-square-foot building at 4465 Manchester Avenue.

With brewery partner Florian Kuplent, Wolfe is running the $10 million project to redo the former Renard Paper Co. warehouse as a brewery that will, potentially, provide two-year-old Urban Chestnut with the largest beer factory among the area’s craft brewers.

Urban Chestnut worked with Green Street, a Clayton-based developer, to find a building to renovate as a brewery. The beer maker says it has outgrown its brewhouse at 3229 Washington Avenue, which will remain open. That facility will produce 7,000 barrels this year, about double from a year ago.

The new brewery, located in the Grove entertainment area of the Forest Park Southeast neighborhood, will have an annual capacity of about 15,000 barrels, with space to expand to 100,000 barrels.

Green Street bought the Renard building in March and is leasing it to Urban Chestnut.

This week, workers punched holes on the Manchester side of the building for five large windows that will provide views of brewing equipment inside the structure.

“We’ve got daylight,” Wolfe said as he viewed the progress. “Nice.”

Another wall section will come down entirely to produce a patio for about 80 people. A glass partition will separate the patio from rows of beer fermentation tanks.

Peder Hulse, a Green Street vice president, said the building’s oldest section went up in the 1920s as a paint distribution center that was remodeled in the 1940s. An addition in the 1980s and another in the early 1990s brought the building to its current size. Urban Chestnut will use the newest section to store and ship beer.

Aside from new lighting, a gift shop and company offices, the building’s interior will get only a slight makeover.

“We’re going to keep it pretty raw and industrial,” Wolfe said.

Despite its fast growth, Urban Chestnut has yet to crack the ranks of the top U.S. craft beer makers. Schlafly, at 21 the old man of St. Louis microbrews, ranked 44th in craft beer volume sales last year, according to the Boulder, Colo.-based Brewers Association. Boulevard, of Kansas City, held the 14th spot.

“We’re still outside of the top 100,” said Wolfe, noting that Urban Chestnut is less than a tenth the size of Schlafly.

Still, Urban Chestnut is big in the St. Louis beer scene and is part of a golden age of craft brewing in many cities, including Denver, Portland, San Diego, Seattle and Boston.

Wolfe and Kuplent said they were happy to find a suitable building in the Grove, home to a growing number of bars and restaurants.

“We definitely want to be part of the urban life,” Kuplent said.

The new Urban Chestnut brewery, set to open next spring with about 30 employees, will get a warm welcome in the Grove, said Chris Colizza, project coordinator for Mangrove Development, which does mixed-use ventures in the area.

“It’s going to activate a whole block that’s currently vacant,” he said. “It’s going to help the neighborhood immensely from a commercial aspect.”

Colizza, formerly a planner for Park Central Development, the 17th Ward’s development arm in the area, said the brewery will be the Grove’s “marquee” addition, along with a new coffeehouse and, perhaps, a music venue in the 4100 block of Manchester.

HBD Construction, the general contractor on the Urban Chestnut project, has its office 10 blocks west of the brewery site. Its president, Mike Perry, said the stretch of Manchester east of Kingshighway was plenty sketchy before it developed as the Grove.

“I just assumed this would always be a troubled area,” he said. “It’s great to see it coming back.”

Tim Bryant covers commercial real estate, development and other business stories for the Post-Dispatch. He blogs at Building Blocks, the Post-Dispatch development blog. 

Carondelet Commons Moves Closer To Construction

As reported by Tim Logan of the St. Louis Post Dispatch, July 2, 2013:

The long-awaited redevelopment of the old Carondelet Coke site in south St. Louis could begin by year’s end.

An executive from Green Street Properties, which wants to turn the old industrial site into a business park, said his group is close to landing a first tenant and wants to start construction late this year or early next.

Brian Pratt, vice president for development for Green Street, said the firm has “a pending letter of intent for one building, and preliminary interest” for others.

“We’ve now reached a stage where we can deliver buildings and attract jobs and investment,” Pratt told a subcommittee of the St. Louis Board of Aldermen Tuesday.

He was there seeking the committee’s blessing on $7 million in tax increment financing to build an access road for the $70 million project, which sits off South Broadway just north of the River Des Peres. The Housing, Urban Development and Zoning Committee voted to recommend the TIF, sending the measure on to the full board.

At 54 acres, Carondelet Coke is one of the largest pieces of vacant land in St. Louis City and redeveloping it has been a top priority for city officials. Cleaning the site cost $13.2 million  far more than initially anticipated — most of it paid for with brownfields tax credits from the state of Missouri. That work is now largely done, and Green Street is trying to line up tenants.

Pratt said the company envisions production and manufacturing companies on the site, which could house about 400 jobs within five years.

“We think once we have one building in place we’ll very quickly have other commitments,” he said. “Having that first tenant in place is key.”

Green Street leases land to BrightFarms Inc.: Locally grown produce coming to a Schnucks near you!

brightfarms-pa-greenhouse-600

As published by E.B Solomont, St. Louis Business Journal, June 20, 2013: 

Plans for a new greenhouse in St. Louis that will supply Schnuck Markets Inc. with local produce year-round have doubled in size ahead of a planned groundbreaking in August.

The greenhouse, which will be located at 6335 Bulwer Ave., is being built by New York-based BrightFarms Inc., which finances, builds and operates greenhouse farms. BrightFarms officials said the greenhouse will be 100,000 feet and cost $4 million, two times what they previously announced. Plans for the greenhouse were first disclosed last year, when BrightFarms officials envisioned a 43,500-square-foot facility with a $2 million price tag.

The $4 million price tag will be paid by BrightFarms. Under terms of the arrangement with Schnucks, Schnucks does not invest capital in the greenhouse. “They are our retail partner for the produce we grow,” according to Kate Siskel, BrightFarms’ marketing and media relations manager.

The expanded footprint reflects the company’s shift toward building 2-acre farms instead of 1-acre farms, she said. BrightFarms is leasing land at 6335 Bulwer Ave., which is east of Interstate 70 near O’Fallon Park in north St. Louis, from Green Street Ventures. The company is set to begin construction in August, and officials said they expect the farm will be complete by the end of the year, Siskel said.

The farm will grow an estimated 1 million pounds of produce a year, and it will employ 25. “We’re excited to bring millions of pounds of fresh, local lettuces, tomatoes, and herbs to Schnucks’ customers and bolster the growing local food movement in St. Louis. We are bringing the farmer’s market to the supermarket,” BrightFarms CEO Paul Lightfoot said in an email message.

Family-owned Schnuck Markets, led by Chairman and CEO Scott Schnuck, operates 100 stores and 95 in-store pharmacies in Missouri, Illinois, Indiana, Wisconsin and Iowa. The company reported 2012 revenue of $2.5 billion.

Green Street Purchases 70,000 SF for Sustainable Brewery Redevelopment Project

Press Release-

St. Louis (April 11, 2013) – Green Street St. Louis recently purchased the former Renard Paper buildings in Forest Park Southeast, “The Grove” neighborhood, with the intent to redevelop the 70,000 SF of buildings for Urban Chestnut Brewing Company’s (UCBC) second brewing and bottling location. UCBC is a two-year old St. Louis, MO craft brewery who has experienced tremendous growth during their first two years in business.

The $10MM redevelopment will allow co-founders of UCBC, Florian Kuplent and David Wolfe, to increase production from a 2012 level of 4,000 annual barrels to over 20,000 annual barrels once operational in early 2014. As with other Green Street St. Louis projects the redevelopment of the building is slated to be a LEED certified project incorporating components that will decrease the operational costs for UCBC. “Our collective goal is to renovate the building and introduce mechanisms that maximize the efficiency of Urban Chestnut operations while minimizing their impact on the environment,” stated Phil Hulse, President of Green Street St. Louis. “Generally speaking, we intend to employ ‘green’ modifications to minimize Urban Chestnut’s energy footprint.”

The western portion of the main building was built in the 1920s with the eastern additions added in 1986 and 1991. In order to soften the exterior dimensions of the warehouse building significant changes to the exterior will be completed, including a large glass curtain wall in the central section of the building allowing the fermentation tanks to be showcased and visible from the street. Exterior modifications will include outdoor seating and distinctive signage that will further connect the building to the Grove’s eclectic Manchester Avenue streetscape.

 “Green Street is excited to partner with Urban Chestnut Brewing Company in the redevelopment of the property, which will further revitalize the The Grove neighborhood”, says Peder Hulse, Vice President of Brokerage Services.

Trivers Associates will provide architectural services and HBD Inc. will be the general contractor for the project.

Green Street St. Louis is an entrepreneurial, full-service real estate solutions provider. Green Street distinguishes itself through the application of sustainable design and building principles in the adaptive reuse of infill locations. With a focus on user objectives, Green Street provides a comprehensive and integrative suite of services from project conception through construction leading to operational success for our clients. Green Street’s approach utilizes established experience to complete innovative real estate projects as an advisor, a developer, and as a property owner.

Urban Chestnut Brewing Company (UCBC) is an unconventional-minded yet tradition-oriented brewer of craft beer.  Founded in early 2011 and located at 3229 Washington Avenue in Midtown St. Louis, it brews both small batches of artisanal, modern American beers (their Revolution series) and classically-crafted European styles (their Reverence series).   The founders are Florian Kuplent and David Wolfe.  Kuplent is a German born and trained brewmaster with extensive experience at both small breweries, worldwide, and with the world’s largest, Anheuser-Busch InBev.  Wolfe is a 20-year beer industry member, who was with Anheuser-Busch as well, prior to joining Kuplent in founding Urban Chestnut.