ST. LOUIS — The Gateway Arch Park Foundation is under contract to purchase the Millenium Hotel, officials announced. Ryan McClure, executive director of the foundation says there are big plans for the property that sits adjacent to the archgrounds. 

“I can promise you that this partnership is here to make something very special happen on this site,” McClure said. “We would not be involved if that was not going to be the outcome.”

What You Need To Know

  • The property, located at 200 S. 4th Street, has been vacant since 2014. The nonprofit foundation has been interested in the Millenium Hotel for three years

  • The foundation will work with St. Louis Development Corporation (SLDC), the city of St. Louis and Great St. Louis, Inc., on a redevelopment plan

  • The city also made an offer to buy the Railway Exchange Building and the deadline for the property owner to respond was Friday, Sept. 20. The city plans to use eminent domain to bring it under local control and will file a petition next week

The property, located at 200 S. 4th Street, has been vacant since 2014. The nonprofit foundation has been interested in the Millenium Hotel for three years, according to McClure.

Inspiration came when officials visited the Cuyahoga Valley National Park in Cleveland and saw the “incredible” transformation surrounding the park, thanks to its conservancy, which bought pieces of land around the park, McClure said.

“It really inspired us to start thinking about where are opportunities around Gateway Arch National Park to better connect the park to the city, driving on what’s already been done through the CityArchRiver Project and really help solve challenges and problems the city has,” he said.

The foundation will work with St. Louis Development Corporation (SLDC), the city of St. Louis and Great St. Louis, Inc., on a redevelopment plan.

“The biggest thing that needs to happen here is for this site to be an economic driver and engine for this region,” McClure said.

“It has been vacant since 2014 and we need to bring it back to life. It’s in a critical part of downtown St. Louis between the Gateway Arch grounds, Busch Stadium and Ballpark Village and its proximity to Gateway Mall and the reinvigorating that is going to happen there.”

Specific redevelopment plans for the Millenium Hotel are in the works with the city. A timeline of the project has not been announced.

He mentioned the foundation would partner with a developer “who has the drive to do what’s right for St. Louis,” and noted that the goal is not to own the property long-term, but to get site control.

McClure would not disclose the price of the property, but it will be completely financed through the Gateway Arch Park Foundation. He also would not talk about the condition of the building.

Throughout the project, McClure said the Gateway Arch Park Foundation will keep the community updated and engaged.

“Getting the Millennium Hotel site under control by a local owner is vital to our efforts to ensure the revisioning of this site is consistent with the community's goals for this neighborhood,” said Dustin Allison, who runs real estate for Greater St. Louis, Inc.

“The foundation has proven time and again its commitment to downtown, our region and its ability to deliver transformational change that we need at the front door of our metro.”

The development fulfills Mayor Tishaura Jones’ request back in May for “bold action” to be taken in 120 days on the hotel, as well as the Railway Exchange Building.

“This building is a testament to the city of St. Louis taking vacancies seriously, whether it’s in downtown underneath one of our great monuments, or if it’s in south St. Louis or north St. Louis,” said Jared Boyd, chief of staff for Mayor Tishaura Jones.

“While this looks like an obstacle, this is a wonderful opportunity to utilize this property in a more beneficial way.”

He thanked the partners and everyone who is working “on these challenging issues.”

The city also made an offer to buy the vacant Railway Exchange Building and the deadline for the property owner to respond was Friday, Sept. 20.

The city plans to use eminent domain to bring it under local control.

“We are ready to issue a petition with the courts next week given that we have to move forward on addressing the public safety issues of that vacant and nuisance property located in the center of our business district,” said Neal Richardson, president and CEO of SLDC.

He mentioned that the building and garage has been appraised for just under $6 million and the leans on the property are larger than that evaluation.

“I know there are legal and financial challenges with the property,” Richardson said. “As we’re looking to come to some agreement with them, they’re not responding, allows us to be able to move forward and take action.”

Richardson said he cannot disclose what the offer was at this time.

Since May 2024, there have been $330 million of new investment announced Downtown, including:

  • Wainwright Building. Arch to Park Equity Fund LLC, a patient capital real estate fund that GSL coordinates, has submitted an offer for the historic Wainwright Building to the State of Missouri. The State has accepted that offer. Customary diligence and negotiations are underway prior to closing. 

  • TierPoint. TierPoint is investing $150 million to develop a new data center in the 2300 block of Locust.

  • Mansion House. A $169 million investment will redevelop the Mansion House on the Riverfront.

  • 1128 Washington Avenue. A $15 million renovation of 1128 Washington Avenue.