How 2028 Olympics is Shaping Revitalization in St. Louis
Date Posted: November 3, 2026
Posted In: Discussion, Featured, What we are thinking about,
From Smart Cities Dive: St. Louis Mayor Cara Spencer believes so much in her city’s downtown that she made it the centerpiece of her administration after she took office last year.
Like other Midwestern legacy cities, St. Louis is suffering from population loss and post-Covid office vacancies in its downtown. Landmark buildings like the 44-story AT&T Tower and the historic 21-story Railway Exchange have been vacant for years. Squatters and thieves have replaced business tenants, spurring the Wall Street Journal to call the Missouri city a “real estate nightmare” in 2024.
Spencer is unfazed. “Downtown St. Louis is a sleeping giant,” she told Smart Cities Dive.
Local businesspeople agree. Robert O’Loughlin, chairman and CEO of St. Louis-based Lodging Hospitality Management, believes that despite its current issues, his city offers more than other Midwestern cities he views as St. Louis’s competition.
“We have a world-class zoo, and our Forest Park rivals Central Park,” he told Smart Cities Dive. “The [Gateway] Arch draws 1.5 million people per year. We have a lot of concerts and sporting events. I boast that if you take all of those assets, they far exceed Indianapolis and Kansas City combined.”
But while Kansas City has poured more than $3.5 billion into district development and Indianapolis officials boast a $9 billion downtown construction pipeline, St. Louis has lagged behind — until now.
A Trio of Revitalization Initiatives
“It’s a vibrant time in St Louis. The next three years are going to be maybe the greatest investment in the urban core since the [1904] World’s Fair,” Ron Kitchens, managing partner of the economic development nonprofit Greater St. Louis, told Smart Cities Dive.
In July, Missouri Gov. Mike Kehoe signed HB 3231, the Missouri Downtown and Rural Economic Stimulus Act. The bill, which the Missouri House approved by a bipartisan 119-24 vote, creates millions of dollars in tax incentives for downtown innovation zones, along with tax credits to convert vacant office buildings into residential spaces.
“This law recognizes the critical importance of downtown St. Louis to the state’s economy, catalyzing hundreds of millions of dollars in new investment in the economic engine of the state,” Kitchens said.
While St. Louis is a blue city in a red state, Spencer believes the Missouri legislature understands its economic importance for the entire state, and so does the private sector.
“I can’t overstate the alignment we currently have in St. Louis to revitalize our downtown,” she said.