Nonprofit Seeks Developers for Vacant Millennium Hotel
Date Posted: November 21, 2024
Posted In: News, Projects,
From St. Louis Business Journal: Gateway Arch Park Foundation, the group that has the Millennium Hotel property in downtown St. Louis under contract, is seeking development proposals for the site.
The nonprofit, which serves as the conservancy for the nearby Arch grounds and surrounding areas, on Thursday issued a request for proposals for the former hotel property at 200 S. Fourth St. The RFP seeks redevelopment proposals for the 4.2-acre site, saying submissions “should aim to create a destination that attracts locals and visitors, and which serves as a catalyst for Downtown, the City, and the St. Louis Metro.”
GAPF said in September it has the Millennium Hotel under contract to purchase and would serve as a caretaker for the site, which includes a pair of towers – one 28 stories, the other 11 – with plans to hand it off to another entity to transform. The hotel site has been vacant since 2014 and is among a group of massive vacancies in downtown St. Louis.
The foundation has declined to disclose the purchase price of the former 780-room hotel property, saying it plans to finance the acquisition with its own funding. GAPF Executive Director Ryan McClure said he was unable to share details on the purchase’s closing timeline, citing the terms of the nonprofit’s contract to buy the property, The seller is Millennium & Copthorne Hotels of London, tied to Hong Leong Group of Singapore.
While the foundation has yet to close on the former hotel site, McClure said it’s important the nonprofit moves quickly to find a developer for its future.