Aviation Development Group of Denver has begun construction of the first building in a multi-phase hangar complex at Spirit of St. Louis Airport (SUS) in Chesterfield, Missouri. The project will supply a mix of corporate and executive box hangars designed to accommodate everything from single-engine piston aircraft to mid-size corporate jets.
Each hangar will include standard amenities: 200 amp, 120/208 volt, 3-phase electrical service; rough-in bathroom plumbing; gas-fired infrared tube heating system; floor drain; and full insulation. Some of the hangars will have attached bungalows intended for office space, flight planning or personal, non-residential use. The hangars will be sold as condominiums subject to a 40-year ground lease.
Only one 60-foot by 60-foot hangar remains available for purchase in the first phase, which should be complete in Spring 2012. The unit is priced at $371,700.
“Typically, opportunities for purchasing new aircraft hangars are limited because most hangars are only available for lease. Ownership is an attractive alternative to leasing for some operators because it offers the opportunity for tax benefits and capital appreciation,” said Michael Dunn, manager of ADG. “Despite the challenging economic climate, there are advantages to starting this project now — construction costs have never been better.”
Spirit of St. Louis Airport has been the business aviation center of the Midwest for more than 40 years. It is located in the heart of the area’s growing west side, minutes from downtown St. Louis and the rapidly expanding Clayton business district.
Aviation Development Group develops aviation facilities on a nationwide basis for individuals, corporations, Fixed Base Operators, charter operators and corporate flight departments. ADG has recently completed construction of aviation facilities totaling 240,000 square feet and valued at $17 million.
For more information: AviationDevelopmentGroup.com