ST. LOUIS–The AT&T tower downtown may see some major changes in the next few years.
The 1.46 million-square-feet tower was bought last year by Boston-based Goldman Group for $3.6 million, according to Armstrong Teasdale. Goldman Group has a track record of renovating large structures into residential developments with over a dozen successful projects in Maine, Massachusetts, and Rhode Island.
According to the St. Louis Board of Aldermen President’s Office, the developer intends to make the 44-story tower a housing and retail development with certain floors for parking. Previous developers struggled to hurdle the parking problem.
Since the tower was added to the National Register of Historic Places by its previous owner, New York-based SomeraRoad, Goldman Group may seek significant state and federal tax credits through Historic Preservation Tax Credit Programs.
“President Green supports Mayor Jones' goal to develop 10,000 housing units by 2030,” stated Yusuf Daneshyar, Director of Communications for Green’s office. “She is optimistic that this development could play a key role in making downtown an attractive place for residents to live.”
Daneshyar believes after the new legislative session begins in April, they'll receive Goldman Group's finalized plans for the tower. At that time, they'll be able to get into specifics for bringing the project online.