It’s been a turbulent stretch for Green Street, one of St. Louis’ most prominent real estate developers. Known for ambitious urban revitalization projects, the firm is now undergoing a reshaping of its portfolio—including a major property sale in The Grove and the sudden closure of a national tenant, Bar K.

Flagship Properties in The Grove Change Hands

Green Street recently finalized the $88 million sale of two of its most visible assets—Chroma and Hue, located at the intersection of South Vandeventer and Manchester in The Grove—to AHM Group, a private real estate investment firm. The buildings, which include 346 residential units and 20,000 square feet of retail space, boast strong occupancy and are surrounded by high-demand institutions like Barnes-Jewish Hospital, Cortex, and Washington University’s medical campus.

“They’re trophy, class-A assets in a trophy, class-A part of the city,” said AHM principal Kyle Howerton. “They’re surrounded by education, employment, and now with the City Foundry, entertainment too.”

Despite some minor deferred maintenance, the buildings are expected to remain cornerstones of the neighborhood under AHM’s ownership.

Tenant Fallout: Bar K Shuts Down Nationally

While one chapter closes on a high note, another ends abruptly.

Turmoil started in September 2024, when Green Street filed suit against one of its tenants—Bar K, the dog-friendly restaurant/bar/park hybrid that had drawn media attention, investor interest, and community buzz since its founding.

This summer, Bar K announced the immediate closure of all locations, including those in St. Louis, Kansas City, and Oklahoma City, citing widespread economic challenges such as inflation, rising labor costs, and decreased consumer spending.

St. Louis Location: 4565 McRee Avenue, in a Green Street-owned property also housing the developer’s headquarters
Lawsuit: Filed by Green Street in September 2024, seeking $300,000 in unpaid rent and eviction. According to court records, the case was dismissed
No Refunds: Membership fees are not being reimbursed

In a heartfelt public statement, Bar K’s founders wrote:

“There isn’t one single cause, but rather a variety of challenges that ultimately proved too difficult for our start-up business to overcome… We are so grateful to have had the opportunity to create this joyful space.”

Social media accounts for Bar K were deactivated the same day the closure was announced, leaving only the message on the company’s website. Notably, Bar K had recently raised a funding round in 2024 and was recognized by USA Today as one of the nation’s top dog bars earlier this year. CEO Tim Schoenfelder—appointed during the expansion—had reportedly departed by late 2024.

The flagship Berkeley Park location in Kansas City, once the jewel of Bar K’s portfolio, had been temporarily closed since early July due to major construction in the surrounding district, which reportedly disrupted access and parking.

What This Signals

Green Street’s contrasting headlines—celebrating the sale of major assets while also navigating the fallout of a high-profile tenant’s collapse—mirror the volatility of today’s development environment. Even award-winning, well-branded businesses like Bar K aren’t immune to market pressures, rising costs, and operational hurdles tied to real estate and infrastructure.

For St. Louis developers, investors, and civic leaders, this is a critical reminder: location, quality, and timing remain key—but resilience and adaptability are just as vital.

We’ll continue tracking these stories—and others that shape the built environment in our region.