St. Louis Development Corporation

The decrepit building in downtown St. Louis is going through the eminent domain process.

The organization’s board of directors voted Thursday to approve the disbursement of $1,090,000 in operational expansion grants after a pause.

The Downtown West neighborhood of St. Louis will soon be home to a new arts and entertainment facility owned by the Kranzberg Arts Foundation. Logic Systems Holdings, a St. Louis County-based audio and video production company, will lease the space.

The $2.6 million Wi-Fi installation project aims to broaden access to high-speed internet for residents.

St. Louis Alderwoman Cara Spencer has resigned from the city’s nonprofit development arm, the St. Louis Development Corporation, citing internal dysfunction and a lack of transparency.

The development by AHM Group aims to transform 12 acres north of CityPark into more than 450 apartment units and tens of thousands of square feet of offices and retail.

The longtime home of Famous-Barr’s flagship store has been vacant since 2013. The city had it condemned last year.

In 2017, 66 projects were approved for tax incentives. That number dwindled to 11 in 2023.

Owners of one of St. Louis’ and Kansas City’s highest-profile development firms face federal fraud charges in an alleged scheme that officials say defrauded a St. Louis city minority and women’s owned business program.

The Railway Exchange building has been vacant since 2014 and has become a high-profile downtown eyesore riddled with trespassing and other crime.