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To help restore the core of St. Louis, public-private partnership announces moves to deal with one of Downtown’s main problem properties
Restoring the core of St. Louis, particularly Downtown, is a key strategic priority called out in the STL 2030 Jobs Plan. To accelerate efforts to revitalize Downtown, the public-private partnership formed in May between Greater St. Louis, Inc. and the City of St. Louis announced today bold action on the Railway Exchange Building in Downtown St. Louis.
On May 17, Greater St. Louis, Inc. and the St. Louis Development Corporation pledged to deliver a realistic and ambitious plan to Mayor Tishaura O. Jones to address the Railway Exchange Building and the Millennium Hotel, two of Downtown’s major vacant properties, within 120 days.
The City announced today that it has secured Railway Exchange's main building and the adjacent parking garage by having a very strong visible presence to deter and prevent crime before it occurs.
“Through public-private partnerships, we’ve stopped the Railway Exchange Building from serving as a magnet for crime,” said Mayor Jones. “We’ve also put the owners on notice that neglect is no longer welcome in the City of St. Louis."
The City also notified the owners of the Railway Exchange of their intent to acquire the property and put them on notice that if a deal cannot be reached that the City can file a petition for eminent domain in Circuit Court to acquire the property.
“Bold action is necessary on these problem properties, and we are working in partnership with the City to address these challenges head-on and quickly,” said Kurt Weigle, Greater St. Louis, Inc.'s Chief Downtown Officer. “The steps taken by the City, coupled with our ongoing work on potential options for Railway Exchange and Millennium, make clear that we are not waiting for the 120-day deadline to come upon us to get to work.”