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Sansone Group and Mia Rose Holdings are moving forward with The Preston at City Center, a new multifamily development in St. Peters, Missouri, within the St. Louis metropolitan statistical area. The project represents the launch of a strategic partnership between the two real estate firms.
The Preston at City Center is planned as a 216-unit apartment community located at 5130 Mexico Road, a corridor that provides access to local retail, services and employment centers in St. Peters and the broader St. Louis region. The development is programmed as a $55 million investment, positioning it as a sizable addition to the local multifamily inventory.
The project is described as a luxury multifamily community, although detailed information on unit mix, floor plans, amenity packages and construction timeline was not disclosed. The announcement focuses primarily on the scale of the investment, the number of units and the formalization of the partnership between Sansone Group and Mia Rose Holdings.
The Preston at City Center adds to ongoing multifamily activity in the St. Louis MSA, where developers and investors continue to target suburban submarkets with new rental housing. By advancing this project, Sansone Group and Mia Rose Holdings are signaling continued confidence in demand for professionally managed, higher-end rental product in St. Peters.
Specific details regarding financing sources, lenders, general contractor, architect, expected delivery date and lease-up strategy were not provided in the announcement. However, the size of the capital commitment and the number of units indicate that The Preston at City Center will be a notable new community within the local market once completed.
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