St. Louis’ Land Clearance Redevelopment Authority has formally purchased the vacant property on the city block directly south of the Railway Exchange Building.
The LCRA paid about $2.6 million Friday for the 10 parcels that make up the vacant parking garage and surface lot that comprise the city block.
The city’s land purchase is the first from the eminent domain case filed last year to seek control of the long-vacant office building and accompanying parking structure.
“I can’t wait to see this parking garage go down. This particular facility has held us back for many years,” said St. Louis Mayor Tishaura Jones. “Acquiring and demolishing this eyesore will help us make the Railway Exchange Building as attractive as possible to a responsible developer who cares about our city.”
St. Louis Development Corporation President and CEO Neal Richardson said the city plans to demolish the derelict parking structure that is covered in graffiti from top to bottom. The demolition plans do not include the building along North 6th Street that housed a Charlie Gitto’s restaurant or the historic Gill building along North 7th Street attached to the garage, Richardson said.
“As a visitor coming to downtown St. Louis, imagine if this is the first impression you see of downtown [St. Louis]. How does that make you feel?” he said. “The next step for us is to address bringing the building down while also continuing to ensure that we are getting the best price possible for our taxpayers.”
Richardson added that the city’s building division is moving forward with an emergency demolition of the site, which now allows them to solicit proposals for contractors to perform that work.
“The reason why we’re taking immediate action on this site is because it’s been left in such disarray that it is creating public harm to our community,” he said.
Friday’s purchase does not include the Railway Exchange Building to the north, which the courts have priced at $4.75 million. Richardson said the city would continue to contest that figure.
On top of the demolition work, SLDC is crafting a request for proposals for the redevelopment of the Railway Exchange Building and the city block to the south, which Richardson said he expects to be released in 60 days. He said the organization is still working to define its vision for an eventual redevelopment project.
“We don’t want to cut out any possibilities of what could happen,” Richardson said. “There’s a lot of different innovative models across the country around how to repurpose these former large buildings into residential, hotel [or] entertainment spaces.”
He points to Cordish Co.’s proposed $670 million mixed-use redevelopment of the Millenium Hotel site that includes residential, office space and other amenities, which responded to a request for proposal that wasn’t limited in scope.
Jones added that the steps taken by the city now help build momentum for the region’s downtown redevelopment.
“We’re well on our way to rebuilding the central hub of our region and making it a place where residents and visitors can enjoy themselves,” Jones said.
