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Brothers Michael and Steven Roberts are sinking about $55 million into a roughly two-block area to the north of the Old Post Office - buying another building and helping create a public plaza to tie it in with the Mayfair Hotel, American Theatre and heir other properties.
Last week, the Roberts brothers bought the 60,000-square-foot St. Louis Arts Center building at 917 Locust. They plan to blend offices and loft-style apartments in the building, said Michael Roberts, chairman and chief executive of the Roberts Cos. Roberts declined to disclose the purchase price.
The acquisition builds on the already extensive real estate holdings the Roberts brothers have amassed in the Old Post Office District. Since the beginning of last year, the Roberts brothers have purchased the Mayfair, the American Theater and the Board of Education Building. All the buildings overlook the civic plaza that booster organization Downtown Now wants to create on what is now a parking lot to the north of the Old Post Office building, which DESCO Group and DFC Group...