ULI Panel: Downtown St. Louis Moves From Plans to Action

Date Posted: August 20, 2026

Posted In: Discussion, Regionalism, What we are thinking about,

by Tom Finan, Executive Director, Construction Forum

A year ago, the conversation about Downtown St. Louis was largely about what needed to happen.

At ULI St. Louis’ “Developing Downtown St. Louis” program Thursday morning, the message was different: things are happening.

The Aug. 20 panel brought together Gretchen Minges, co-founder of Advantes Group; Ryan McClure, executive director of Gateway Arch Park Foundation; Stephen Davis, chief economic development officer for the City of St. Louis; and Steven Westbrooks, president and CEO of St. Louis Development Corporation (SLDC). Aaron Williams moderated the discussion.

Panelists pointed to an unusual convergence of new state incentives, $55 million in Rams settlement funding, major projects and growing public-private collaboration.

“For the first time in 20 years, I feel like everybody’s really working collaboratively,” Minges said.

Westbrooks pointed to new state legislation, Rams funding and continued progress on the Brickline Greenway as evidence that the Downtown conversation has moved beyond planning.

“We’re not just hoping something happens,” he said. “We have real proof points now that things are actually happening.”

New Tools for Downtown Investment

Much of the discussion focused on Missouri House Bill 3231 and its Missouri Innovation Zone, which is expected to encompass much of Downtown.

Westbrooks described the legislation as an unusually powerful package of incentives concentrated in a relatively small geographic area. Provisions discussed included a 10-year state tax deferral and incentives for investors, employers and employees locating within the zone.

The legislation also requires a master plan.

Davis and Westbrooks said the intent is not to start over but to build on work already completed, including the Design Downtown plan and ULI’s 2024 Advisory Services Panel. The resulting plan could also become a national marketing tool for attracting investment.

Westbrooks said combining Downtown’s currently depressed real estate market with the new incentives creates “a really interesting recipe for opportunity.”

$55 Million to Catalyze Downtown

Another major piece of the emerging package is $55 million in Rams settlement funds appropriated for Downtown through Board Bill 22.

The funding includes investments in the riverfront, retail and street-level activation, event attraction and major Downtown assets.

Panelists stressed that the money needs to be deployed strategically rather than divided among disconnected projects. Investments in buildings, public spaces, retail, tourism and the riverfront need to reinforce one another.

Davis said an earlier Downtown retail incentive program demonstrated that there is demand from retailers. More than 30 applications came in shortly after that program opened.

It also showed that retailers need more help overcoming the costs of entering the Downtown market. Its $50,000 tenant improvement grants helped businesses open, but Davis and Minges said those dollars can disappear quickly when building out restaurant and retail space.

Minges said Downtown also cannot depend on the office market returning to its pre-COVID form. Tourism, sports and events will need to play a larger role in generating foot traffic and supporting businesses.

Turning St. Louis Back Toward the River

The riverfront was another major focus.

McClure said Gateway Arch National Park’s approximately 2.5 million annual visitors represent an enormous Downtown asset, but the Arch cannot reach its potential if the areas surrounding it struggle.

That has pushed Gateway Arch Park Foundation beyond the Arch grounds, including involvement with the Millennium Hotel, Kiener garages and riverfront.

The Rams allocation includes $15 million for the riverfront, but McClure said that is just a starting point. He estimated that at least $60 million ultimately could be needed, combining public and private investment.

“The Mississippi Riverfront is the entire reason that St. Louis is here,” McClure said. “We’ve done a really good job of turning our back on it for generations now. That has to stop.”

Building a Downtown Neighborhood

The discussion repeatedly returned to density and the street-level experience.

Westbrooks estimated Downtown’s population at approximately 12,000 and suggested reaching closer to 25,000 residents could provide the density needed to support a stronger neighborhood economy.

The panelists said that office-to-residential conversions can be part of that equation, but housing alone won’t be enough. Restaurants, retail, public spaces, entertainment and other amenities need to connect Downtown’s major investments and give residents, workers and visitors reasons to spend time there.

Williams closed by asking the panel for the national pitch for investing in Downtown St. Louis.

Minges summed up the morning’s message: the opportunities are here, public and private partners are working together, and much of the difficult groundwork has been done.

“Now,” she said, “we need the people to help get to the finish line.”