A long-vacant hotel in downtown St. Louis, Missouri, will be torn down and redeveloped, and the nonprofit leading the initiative just revealed the details of the project’s $670 million plans.
Gateway Arch Park Foundation tapped The Cordish Companies to redevelop the Millennium St. Louis property, which has been vacant since 2014 and is located next to the St. Louis Gateway Arch. The nearly $670 million project plans to demolish the existing building and develop a new high rise of 1.3 million square feet of multi-use space.
“We are delivering on our promise to take swift action to bring vibrancy once again to this critical downtown location,” Ryan McClure, executive director of Gateway Arch Park Foundation, said in a news release. “By selecting a developer before closing on this property, we are continuing momentum with purpose and dedication.”
The nonprofit originally acquired the building last fall after the city of St. Louis threatened to seize it via eminent domain. Gateway Arch Park Foundation issued a request for development proposals, eventually selecting The Cordish Companies, a Baltimore, Maryland-based real estate development and entertainment operating company.
The former hotel sits adjacent to many of St. Louis’ landmarks, including the Gateway Arch, the Mississippi River, Busch Stadium and Ballpark Village. The proposal included plans for upscale residential space, office space, a food hall, an amphitheater and a home for the nonprofit’s archives.
Originally opened in the 1960s by Millennium Hotels & Resorts — a subsidiary of Singapore-based global real estate company City Developments Limited — the hotel is reported to have several hundred rooms, meeting space and a restaurant.
“This development is a once-in-a-generation moment to reimagine and continue to reinvigorate downtown’s urban core,” Blake Cordish, principal of The Cordish Companies, said. “By linking new and existing assets to thriving corridors, this project will act as a catalyst for further revitalization, bringing more residents and visitors, attracting new businesses, and driving long-term growth and vitality for St. Louis and the region.”