Beyond the List: 4 real estate projects revitalizing downtown St. Louis
The 13 planned or under construction projects on this week’s Downtown Developments List promise to continue revitalizing St. Louis’ central business district. Below, we're highlighting some specific projects and what they mean for downtown St. Louis.
A cloud of new developments is descending on Locust Street. The former YMCA building, at 1528 Locust St., is under construction to become a hybrid museum-hotel, while the former Shell Building (pictured) is slated to become a dual-branded Home2Suites/Tru by Hilton hotel. Next door, Dallas-based Alterra International plans to spend $103.7 million to turn the Jefferson Arms building into apartments, retail and a hotel. Further west on Locust, an apartment complex and a mixed office and retail space are in the works.
Laclede’s Landing, featured in this week’s cover story, could become one of the region’s biggest downtown developments. In 2018, developer Brian Minges redeveloped the former Metro Transit headquarters into Peper Lofts for $12 million. Now, Minges and fellow developer Davis Messner plan to spend $60 million to redevelop five more buildings (with a sixth under contract) into apartments and offices. They have a 10-year plan to redevelop 140 acres along the waterfront, which they say can be achieved for under $1 billion.
The redevelopment of St. Louis’ Railway Exchange Building is downtown’s most expensive planned project, with a proposed cost of $300 million. HH St. Louis Railway LP, a subsidiary of Florida-based Hudson Holdings, bought the building in 2017 with plans to turn it into apartments and retail space. However, financing issues and two water main breaks have stalled construction.
Ballpark Village Phase II is set to finish in the first quarter, wrapping up one of the largest regional downtown developments in recent history. The $260 million project added an office building, luxury apartments, a retail pavilion, a fitness center and a Live! by Loews hotel (pictured) to the area around Busch Stadium. Phase I featured a $100 million dining and entertainment complex that opened in 2014.