Downtown

A study released Wednesday by the Brookings Institution examines how St. Louis could reverse the perception of downtown as a "real estate nightmare" by converting office buildings to residential uses.

Brad Dean says new partnerships and strategies will entice visitors and help rewrite the narrative for locals.

It would be a marked change for the prominent and iconic hotel site between the Gateway Arch grounds and Busch Stadium, which has sat vacant since 2014.

St. Louis had $300 million and 16,000 ideas from the public on how to spend it at the beginning of this legislative session. A year later, the Board of Aldermen has made no progress.

Legislation from Alderwoman Cara Spencer would establish a mechanism for the city to reimburse 85% of Anders’ payroll, earnings and net profit taxes on new hires at the firm.

Members of the board’s Housing, Urban Development and Zoning Committee voted 5-2, with Anne Schweitzer and Michael Browning voting no.

It comes in a Commissioners’ Report filed Friday as part of the eminent domain case involving the prominent and long-vacant downtown building.

The firm had acquired the property earlier in the year and had been working on the right fit for the space.

The Downtown North Community Improvement District would formalize some of the actions taken by individual property owners to promote the area of downtown as an emerging geospatial and entrepreneurial hub.

The Staenberg Group has plans to redevelop the site into a “Downtown Chesterfield” with housing, retail spaces, restaurants and more. Developers expect it to be four years before people can start moving into new residential units.