23
Aug

Company proposes $6.6 million redevelopment of St. Louis-owned property – STLtoday.com

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A company with roots in St. Louis is proposing to redevelop a site containing a deteriorating factory building in an industrial area between Interstate 70 and Bellefontaine Cemetery. 

Obax Worldwide Limited Construction hopes to establish an office on a 2.9 acre site in the Mark Twain neighborhood for light manufacturing of construction materials. 

Obax, which says it has offices in Houston, Nigeria and China, focuses on oil and gas infrastructure and is interested in expanding a construction material division, said Walle Amusa, a representative for the company. The company was originally founded as Arlou Inc. in St. Louis and is led by Patrick O’Basuyi.

Obax is proposing to purchase a St. Louis Land Reutilization Authority-owned building and land at 4658 Rosalie Street for $270,000. A $6.6 million redevelopment project estimated to take about three years would generate about 40 to 45 employees at the new facility, according to a city report on the proposal. 

The city-owned land has been part of a redevelopment area for nine years and and the developer would be eligible for 10 years of tax abatement. The St. Louis Land Clearance for Redevelopment Authority recommended approval of the plan Tuesday. It needs final approval from the Board of Aldermen. 

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