One Cardinal Way, overlooking the stadium, opened in 2020. And local firm Bamboo Equity Partners opened a historic rehab, the Ballpark Heights apartment complex, earlier this year.
The apartments at 11th and Spruce will be built by Chesterfield-based general contractor Brinkmann Constructors.
As part of the construction process, the company is currently preparing the site and has uncovered parts of the old Cupples 7 building, Calahan said.
The city granted the project 10 years of 40% tax abatement, and the project is in an Opportunity Zone, which offers further federal tax incentives. The project also has a sales tax exemption on construction materials.