We’re excited to share that Keeley Properties has officially broken ground on Iris, a new mixed-use development at 4108 Clayton Ave. in St. Louis’s Cortex Innovation District — and the first new-construction residential project in the District’s history.
Located near the Cortex MetroLink station, Iris will feature 174 apartments (17 of which are designated affordable housing) alongside ground-floor retail space. We expect to complete the project and begin leasing in the first quarter of 2028.
Keeley Properties’ President Jason Braidwood summed up the vision behind Iris: “This project is designed to complement the energy of the District — contributing the housing and amenities needed to support Cortex’s continued evolution into an 18‑hour neighborhood.”
Sam Fiorello, President and CEO of Cortex, echoed that sentiment: “As Cortex continues to grow as a center for research, technology, and entrepreneurship, expanding high‑quality housing options within walking distance of jobs and transit helps create the kind of vibrant, connected community that attracts and retains top talent.”
The development is expected to generate $3.2 million in new revenue for the City of St. Louis over the next 25 years, and we’re proud to contribute $250,000 to the city’s Affordable Housing Trust prior to occupancy.
Iris is being built by an outstanding group of local firms. Holland Construction Services is serving as general contractor, with Arcturis as architect of record and Cedergreen as design lead — both St. Louis-based firms we’re proud to partner with. We’re also grateful for the investment from the Arch to Park Equity Fund, the real estate fund of Greater St. Louis Inc. As their CEO Dustin Allison said, “The Fund’s significant investment in Iris reflects our strong belief in this project and that Cortex is positioned for even more growth in the years ahead.”
Iris is the first phase of a larger, multi-stage development we have planned for the site. Future phases will add Class A office space, structured parking, and additional tech office and retail development across the more than 2 acres we control surrounding Iris. We’re building something lasting here — and we can’t wait to show you what’s next!