Developer Remains Optimistic About $300M Plan for Railway Exchange Building
Date Posted: December 28, 2018
Posted In: Projects,
From St. Louis Business Journal: Before the Railway Exchange Building, there were the Starks and Republic buildings in Louisville, the Textile building in Cincinnati, the Huntington in Cleveland and the Mark Twain in Kansas City.
From 2015 to 2017, South Florida development firm Hudson Holdings LLC built a portfolio of historic properties spanning 5 million square feet across a handful of cities with redevelopment plans valued at more than $1 billion. These were to be various hotels or mixed-use projects that would make use of historic preservation tax credits and other public incentives.
The Railway Exchange Building in downtown St. Louis has potential to be another historic building of promise for Hudson. For decades, the building, built in 1914, was Famous-Barr’s flagship department store and eventually the office of its parent company, May Department Stores.
“It’s an epic building on Main and Main in prime downtown St. Louis,” Hudson Holdings co-founder and Principal Andrew “Avi” Greenbaum told the Business Journal this week. “(We) feel that St. Louis has all the makings of a downtown on the rebound.”